Snapchat: here to stay - or gone tomorrow?

San Francisco

IS Snapchat a lasting sensation or a shooting star?

Just as the vanishing-message smartphone app confirmed that six billion videos are viewed daily - a three-fold surge from early this year - word spread on Wednesday that one of its investors slashed the value of its holding in the startup by 25 per cent. It wasn't clear from regulatory filings whether backer Fidelity Fund thought Snapchat was worth less, or whether it had sold off some of its stake.