1 Instagram CEO says they tweaked it, not copied it
CEO of Instagram Kevin Systrom mentioned that they did not copy Snapchat. Instead, they tweaked Instagram. According to him, all social media platforms adopt features from each other and execute them on their apps, such as the 'Like' and 'Comment' tab. Systrom also said that they also added the ability to pause the story, which was missing from Snapchat.
2 Not exclusive to Instagram
Systrom says that the story feature they have added is not something that will remain exclusive to Instagram. This feature can also further be added by some other social media platform.
3 To take the lead
Snapchat grabbed the attention of plentiful reasons swiftly. Instagram did not want Snapchat to take over; hence they recreated the story feature on their platform to retake the lead in photo-sharing applications. The fact that they Systrom cannot deny is that before they added up the story feature, they were experiencing a slow down in user activity.
4 Founders thought it would make Instagram more valuable
They did not want the Snapchat to steal the show, so they also added the same feature in Instagram, in order to give them a robust competition. (See Why is Instagram so popular?)
5 Adapting to the constant changes in market trends
A fact not hidden from the world that Snapchat became extensively famous in a very short duration. The reason is evident that it was equipped with an exclusive feature that gained the utmost recognition in the market worldwide. Knowing and admitting this fact, Instagram also rolled out its own story feature to enhance their customer experience and satisfaction.
6 Other platforms including Snapchat copied Instagram filters
Developers of Instagram mentioned that Snapchat copied the filters feature, which was exclusively designed by Instagram. (See Why do people use Photo filters?)
7 Not an exception in the tech industry
It is quite a common thing that one can experience in the tech industry. The sole reason is that this industry thrives on competition and customer experience. This is why they adapt to the changes even if they originate from other brands/companies to make their product or service more attractive.
8 To captivate more users especially the younger generation
Equipping Instagram to the stories feature helped them attract more users and boost their number of downloads. Adding the stories feature allured many teenagers and adults towards Instagram as most people of the younger age group use the stories feature.