There has been plenty of discussion this week about Snap, Inc’s share price, which has reached a record low following the Snapchat parent company’s IPO earlier this year.

Now CNBC has published an article based on interviews with ad-agency executives, which flags some warning signs for the company’s business model.

“Problems with the company – including a lack of measurement data, disinterest among social media celebrities, confusion about the platform, and general indifference towards advertising agencies – are leading more of their clients to abandon it,” suggested the piece.

“Interest among brands is flat — at best — or declining, they say. Meanwhile, those media, influencer and creative agencies say competitor Instagram is beating Snap on all those fronts.”

It’s a tough but necessary read for Snap, which has been criticised for a perceived arrogance in several of these areas before.

The killer quote, from one exec: “My guess is most people are asking themselves: ‘Why invest in content on a smaller, and slower growing, platform than Instagram and Facebook Stories?”

Why indeed?

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