Facebook is currently the most popular social network the world over but if you ask the teens, they may say differently. A recent survey by Investment Bank Piper Jaffray finds that Facebook is losing its charm among the teens while Instagram and Snapchat are fast growing in popularity.

The survey titled “Taking Stock With Teens” in which 6,200 teens with average age of 16 were surveyed, has found that only 14% of the US teenagers regarded Facebook as the “most important social network.” This was 23% last year and 33% in 2013 indicating that Facebook is fast losing popularity among the US teenagers.

So which social network is regarded by the teens as the best? Well, the Facebook owned Instagram was chosen as the top social network by 32% of the teens while 24% chose Twitter. Facebook with 14% came at third place closely followed by Snapchat with 13%.

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Piper Jaffray releases this survey twice a year and it is closely watched on Wall Street. Companies use the findings to get an idea about teens’ spending pattern and brand preferences while investors use them for making their stock buying decisions.

Survey results released by Pew Research Center tell a different story. Their survey found Facebook to still be the top choice of teenagers with 71% teens aged between 13 and 17 using it. 52% of them used Instagram and 41% used Snapchat.

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