VIDEO : Snapchat Struggles As Instagram Stories Grow In Popularity

Snapchat's parent company Snap Inc shares decreased by more than 12 percent in extended trading on Thursday after the company reported user growth and revenue that fell short of expectations. Investors worry about Snapchat's ability to compete for users and advertising dollars with rivals like Instagram adding features similar to the Snapchat model. Executive vice president Salvatore Recco at 50 Park Investments said, "There is a lot of heavy competition and the company has not figured out how to monetize its audience yet. Until they do, investors will likely continued to be disappointed."