As social media giants fight to keep their dominant market positions, Twitter is trying to keep up with the times by creating a new video sharing tool that shares similarities with Snapchat.

Capturing and uploading videos to Twitter can be a little clunky in its current state. In contrast, Snapchat's capture and share workflow is one of the fastest and easiest methods to share pictures and videos so its no surprise that others are using it for inspiration.

Instead of requiring users to shoot video using a native camera app, Twitter will have a built-in capture tool. Sharing a photo or video will be a matter of capturing something with your camera and then hitting the tweet button inside the Twitter app. Reducing the number of steps required to share content is believed to encourage more frequent use of the platform.

Following the return of co-founder Jack Dorsey in 2015, Twitter has been recovering from a decline. The introduction of live video, revamped timelines and changes made to the explore feature all occurred with Dorsey running the show. Regardless of political opinion, it is undoubtedly true that President Donald Trump has also helped bring attention back to Twitter with media coverage mentioning tweets almost daily.

Despite returning users, investors are still a little hesitant to give the nod that Twitter has long-term potential. Its stock has yet to surpass its initial public offering price of $25.94 per share and is nowhere near its all-time high of over $73 in late 2013.