Stories

Facebook is beating Snapchat on its own invention — stories

Facebook Stories, pictured as a bag of potato chips
Illustration: Sarah Grillo/Axios

Stories, the tap-and-swipe vertical format for sharing pictures and videos, are poised to dominate the social web's next era — and Facebook now has the lead, even though it was Snapchat that invented and popularized them.

Why it matters: Each generation of digital media brings new voices and firms to the fore. But right now, Facebook appears to have surmounted the Snapchat challenge — thanks to smart acquisitions, speedy product development, and the power of incumbency with billions of users.