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Instagram adds another Snapchat-like Stories feature

Instagram

Instagram announced Tuesday it will now let users share "Stories," a feature it copied from Snapchat in 2016, to friends directly. Snapchat unveiled a similar feature in March that lets you create custom stories for groups. Instagram says the update will be rolling out globally over the coming weeks.

Why it matters: Instagram has captured a massive Stories audience since it launched the copycat feature last year, and most analysts would argue that it has put a dent in Snapchat's user growth. In June, Instagram Stories hit 250 million daily active users (DAUs), again surpassing Snapchat's 166 million DAUs, first reported during its earning's report in May.