Evan Spiegel, the founder and CEO of Snap — parent company of Snapchat — told attendees at a tech conference in Munich on Sunday that he thinks competing app TikTok may have greater potential for growth than industry giant Instagram.
Spiegel's comments about TikTok, a platform for short videos, came after a question about his opinion of the app.
He praised TikTok's emphasis on providing "talent-based content" that is entertaining for viewers. In contrast, he said, traditional social media such as Instagram centers around users building up their status, gaining likes and comments, and conveying that they are "cool."
"This talent-based content is often more interesting than status-based content," Spiegel said.