Which is Instagram's closest competitor?

The correct answer to this question is Snapchat. The feature of stories became popular on Snapchat, which is why many began using the app. It allowed people to post stories and have them expire in 24 hours. Snapchat also introduced a number of filters and new creative controls over photos and videos.

Shortly after, Instagram included these features on its platform, with different filters and ways to edit photos and videos. Despite being a close competitor, Instagram has many more users of stories than Snapchat does. Studies show that above 250 million users use Instagram stories daily, compared to the 173 million daily users of Snapchat stories.

Usually the competitors for a product or service are those that were created around the same time or longer than the other company’s product or service. However, sometimes, newer companies with similar products can become a competitor of an older company’s product based on the way that it was able to find another function that would make its users like the product even more and like this product more than the other company’s product.

In regard to Instagram, their closest competitor is probably Snapchat. Snapchat has been around for just as long as Instagram and it has similar functions. These include posting photos and writing captions underneath them. There are a few differences including the fact that Snapchat can message.