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.
Excavation uncovers historical stepwell in Uttar Pradesh's Sambhal
Sambhal: An excavation team from the Archaeological Survey of India (ASI) has unearthed an ancient stepwell, or 'baoli,' in the Chandausi area of Uttar Pradesh’s Sambhal district. This discovery follows the reopening of a Shiv-Hanuman temple in the district after 46 years.
District Magistrate Rajendra Pensiya confirmed the findings, stating that the baoli spans approximately 400 square metres and includes four chambers, with marble floors on the second and third levels and brick construction on the upper floors.
"The excavation revealed a structure recorded as Ah-Baoli Talab, believed to date back over 150 years to the era of the grandfather of Bilari's king. The Nagar Palika team is actively removing topsoil, and around 210 square metres have been uncovered so far, while the remaining area remains encroached. Steps will be taken to clear the encroachments and fully unearth the structure," Pensiya said.
Krishna Kumar Sonkar, Executive Officer of the Municipal Corporation, stated that the excavation began promptly after reports of the underground structure. "We are committed to restoring the baoli and uncovering all its details as the work progresses," Sonkar added.
In a separate development, an ASI team conducted a detailed survey of five shrines and 19 wells across Sambhal, inspecting 24 areas, including the recently reopened ancient temple. The survey, which lasted 8-10 hours, aims to provide a comprehensive report on the district's historical sites.
Efforts to preserve and restore these structures continue, highlighting the rich cultural and historical heritage of Sambhal.
