Snap said in a blog post that it launched lenses — which are images
that people can superimpose on their selfies — a year and a half ago to give users more ways to express themselves.
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“The copycatting impacts sentiment among investors because to some degree the advertising spending
that goes to Instagram and Snapchat comes from the same pool,” said Brian Wieser, an analyst at Pivotal Research.
These features added whimsy and color to Snapchat’s messaging service, which has drawn an avid base of users
and has helped propel new forms of digital advertising.
Investors are looking for evidence that Snap can be more innovative than its competitors, and
that its new products can attract and retain Snapchat’s young users, who advertisers want to court.
