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Snap Inc.

The company’s Snapchat social media service, which debuted in 2011, became a hit for letting users share ephemeral messages with friends. But the company has faced stiff competition from Facebook and its sister service, Instagram, which have since developed similar features, and TikTok, the Chinese-owned social media service that’s gone viral among Generation Z.
Mateusz Slodkowski—SOPA Images/LightRocket/Getty Image