Snap rival Instagram Stories' growth weighs on shares

Instagram's Stories - a Snapchat-like feature that allows users to post ephemeral photos and videos - is stealing more of its rival's thunder. The video will last long enough for your closest friends to see it - they're the ones who are checking your stories every day, after all - but disappears before it can come back to haunt you. Snap shares declined about 3 percent after the new Instagram Stories daily active user numbers were announced.

Read: Instagram Vs Snapchat: More People Use Insta Stories Than Snapchat, But Which One Better? He has also developed tools to monitor brands' early adoption of live-streaming apps, compare Yahoo's and Google's search designs and examine the NFL's YouTube and Facebook video strategies.

Instagram is designed for the iPhone and can be downloaded now on the App Store for free.

Instagram has 700 million users worldwide, a statistic the company released in April noting the last 100 million users joined more quickly than ever.

Instagram today is rolling out the option of saving your public live broadcasts to your Instagram story, where they can be replayed by your followers for the next 24 hours.

Shares of Facebook fell 0.2% to $152.61 early Tuesday afternoon.

This feature is part of Instagram version 10.26 which is now out for both iOS and Android.

  • Carolyn Briggs