So Facebook’s plan worked?

Today Snap revealed that it now has 166 million daily users, 34 million fewer than Facebook’s Snapchat clone, Instagram Stories.

Facebook launched Instagram Stories in August 2016, a completely transparent effort to rip off the formula that made Snapchat a success and slow down Snapchat’s growth in the process. Facebook’s attempts to copy Snapchat almost always fail — Poke, Slingshot, etc. — but Instagram Stories took off.

Investors were sweating over Snap’s growth after Facebook said Instagram Stories had reached 200 million users in April — way above the 158 million users Snapchat had at the end of 2016. Now it looks like they had good reason to worry.

The big takeaway: Hitting 158 million users in 2016 was significant (Snapchat grew 48 percent in one year) but then Snapchat’s growth started slowing down. The app added 5 million users in Q4 2016, and a little more in Q1 2017 (8 million). Compared to early 2016, this growth rate sucks, and the change correlates with the rise of Instagram Stories. The trend makes Facebook look invincible, and it makes Snap look like Twitter.

Shared From Venturebeat