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I personally think Snapchat is past its peak & it's business model isn't really comparable to that of FB. Also the platform is kind of dying off, at least for my social circle I've stopped using it 3-4years ago.
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Personally I don't think Snapchat is going to be the next fb. Many more people are using fb instead ...
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Like what the others have said.
Snapchat has been loosing to insta in its core users for awhile now and with the rise of tiktok, unless they do something to differentiate themselves, they probably won't be able to come back