Though Snapchat keeps pumping out innovative features that every other company then grabs for themselves, it has been struggling to gain new users. Last week it laid off 22 employees and reportedly consolidated its operations. But features that Snapchat pioneered have become some of the most popular features on other social networks. Last year, Instagram Stories users outpaced Snapchat users by tens of millions of people and Instagram has continued to expand its filter offerings. Along with short videos and stories, Snapchat's AR objects and stickers have also spread across various other platforms.

There aren't many details available about Twitter's video feature, but sources told Bloomberg that the company has a working demo. They also said that it could change significantly before being launched and there's no word yet on when that might happen. In 2016, speaking at a conference, Twitter CEO Jack Dorsey called his own platform confusing and said, "I think [Snapchat's] very modern. It's recognizing that we're going to press buttons less and gesture more."