Snapchat, the image messaging and multimedia mobile application has 166 million daily users. Snap - its parent company - was valued at $24 billion when it was floated this year. It's in fierce competition with Facebook and Instagram for users. But its first quarter as a public company has ended with very slow growth and a loss of 2.2 billion dollars.



So why isn't Snapchat taking off as people expected? Jeff Gothelf is an Innovation consultant and author of Sense and Respond.



Plus Doug McIntyre of 24/7 Wall Street on the day's trading.