Snapchat's daily user count slips to 188 mn
San Francisco, Aug 8 : Snapchat's daily active users number shrank 1.5 per cent to 188 million in the second quarter of 2018 -- down from 191 million in the last quarter, its parent company Snap has said.
Although the company's revenue increased 44 per cent to $262 million -- compared to $182 million revenue in Q2 2017 -- it appears that Facebook-owned Instagram "Stories" has stalled Snapchat's growth.
More than 400 million people use Instagram's "Stories" feature daily to post photos and videos that disappear after 24 hours.
"We are excited by the progress we have been making and are optimistic about the opportunities ahead as we continue to invest in innovation," Evan Spiegel, Snap CEO and Co-Founder, said in a statement on Tuesday.
Snapchat for the first time shared the number of monthly active users -- 100 million in the US and Canada. Cash used in operating activities was $199 million in Q2 2018.
The net loss decreased 20 per cent to $353 million in Q2 2018 -- compared to a net loss of $443 million in Q2 2017, said the company.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Bengaluru: Four arrested for housebreaking, threats, extortion; fake PSI among accused
Bengaluru: Vidyaranyapura police have arrested four persons, including a man posing as a Police Sub-Inspector (PSI), for allegedly breaking into a house, threatening the occupants, and extorting money while wearing police uniforms.
The arrested accused have been identified as Mallikarjuna, Pramod, Vinay, and Hrithik.
Police said the accused had hatched a plan to pose as police personnel, conduct fake raids, and extort money from residents by intimidation.
ALSO READ: Bantwal police arrest two men for illegal sale of narcotics, seize two vehicles, 810 gm ganja
According to the police, Mallikarjuna had failed the PSI examination twice and later falsely projected himself as a PSI. He allegedly conducted photo shoots in his hometown, Siraguppa, wearing a police uniform, baton, cap, and shoes, claiming to be serving as a PSI in Bengaluru.
On December 7, the four accused allegedly went to the house of Naveen in the Vidyaranyapura limits, threatened him with a stick and an iron rod, and claimed they had information that he was selling ganja. Under the pretext of searching, they allegedly extorted ₹87,000 through bank transfer, ₹53,000 in cash kept in the house, and ₹2,000 from his wallet.
Following Naveen’s complaint, Vidyaranyapura police registered a case and launched an operation, leading to the arrest of all four accused. Police have seized ₹45,000 in cash and the car used to commit the crime.
Further investigation is underway.
