Morgan Stanley: It Looks Like Facebook Is Shrugging Off SnapChat
The social media stalwart continues to grow user engagement.
Mark Zuckerberg.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Facebook Inc.'s Mark Zuckerberg might not need to worry about Snapchat Inc., according to fresh analysis published by Morgan Stanley.
When Snapchat decided not to take up Facebook's $3 billion acquisition offer in 2013, many thought the company made a mistake — to put it mildly. But 150 million daily active users later, some are arguing that the social media upstart poses a major threat to its larger rival, Facebook, as it snaps up teenage users. Just last month, Andrew Left of Citron Research told Bloomberg that Facebook is "losing their relevancy" and "anyone who has a teen knows you can’t discount the relevancy of Snapchat."