Snapchat can still compete with the big boys of social media.
According to a new Piper Jaffray report, Snapchat app has just surpassed Instagram as the "most important social network" among teens.
In a survey of 6,500 U.S. teens, 28% named Snapchat as the most important service compared to 27% who named Instagram. While the one percentage point difference may seem insignificant, the change in perception over time is very significant.
Instagram has been at the top position of this study for almost two years. Last spring Instagram was named by 32% as the top choice of teens, and last fall 33% named it as the most important.
Snapchat was named by 13% and 19% during those same time periods.
Twitter and Facebook were third and fourth in the latest survey, while Yahoo owned Tumblr rounded out the top five.
Facebook bought Instagram in 2012 for $1 billion. The following year, Facebook tried to buy Snapchat for $3 billion. Snapchat turned down the offer and hasn't looked back.
In both cases, Facebook wanted to grow its audience and product line. With Instagram, it gained an app that appealed to people who skewed younger and female. Snapchat could have given Facebook that plus a popular messaging platform.
Given how dominant messaging apps have become, it's no surprise that teens say Snapchat is the most important social network. Messaging is a more intimate way of socializing, and doesn't force people to think about how to broadcast their personality across the Web.
