At one time it seemed that Snapchat was going to rise to the top, surprising the media world as a small company beating the giants.
However, it seems that this high came down very quickly, which could ultimately have a bitter end for Snapchat as we know it.
Snapchat became the new social media craze when it launched 5 years ago building up to an audience of 173 million daily users. However in recent times SnapÂs shares have achieved disappointing results.
Couple this with Facebook and Instagram copycat new features, Snapchat just could not keep up.
FacebookÂs financial ability to constantly update their new features on both Facebook, Facebook Video, and FB owned Instagram, Instagram stories, is something that Snapchat could not keep up with.
Facebook, with Google, Amazon and Apple, have completely dominated their market, leading to some potential competition issues.
The European Union Competition authorities have penalised Google, as well as Microsoft, for restricting competition. Facebook must be careful as the EU competition authority can come down hard on a business.
Snapchat may not stay as we know it, but what is quite certain is it will not disappear forever.
The lovers of the dog filter and the odd flower crown filter selfie will not be without, as it is though the app business will be bought by a big corporation such as Facebook or Google, which will give it the boost to continue.
The fairytale story of the small company rising above the social media giants has been cut short, but it may still be a happily ever after.