By Sheila Dang

(Reuters) – Investors have been wondering about long-term perspectives for years. Snap Inc (NYSE 🙂 and Pinterest (NYSE 🙂 Inc. These are small digital ad companies that have taken over the ad dollars left by giant tech competitors.

Snap and Pinterest have reported financial results which showed that their small size, diverse advertiser base, as well as newer advertising operations, helped them escape the brunt from Apple Inc’s (NASDAQ:) decision to force apps to request permission from iOS users to obtain certain data.

Meta Platforms Inc (NASDAQ) was able to take more than $200B off Facebook’s market cap on Thursday after the owner of Facebook, Meta Platforms Inc blamed Apple’s fourth quarter results. While Snap and Pinterest shares initially fell due to Meta’s report on the subject, they saw their share prices rise by 55% and 20% respectively late Thursday, after showing strong ad revenues.

Apple introduced App Tracking Transparency privacy updates to iOS devices starting in April. It allows users to choose to disable tracking of activity from other apps or websites.

Snap stated that its advertisers were more familiar with the Apple advertising tool by quarter’s end. Snap has created an additional product for advertisers that measure the effectiveness of ads. This tool is designed to track 75% revenue from its business, which is focused on driving customer action through ads.

Snap’s ads business was able to recover faster from Apple changes, according to Snap Chief Financial Officer Derek Andersen. He spoke during Thursday’s conference call with analysts.

Andersen explained that Snap, the photo messaging app Snapchat owned by the company, started work over a year ago in order to determine how to target users with ads “in privacy-safe ways.” This allowed Snap to move ahead before Apple’s data-tracking changes.

Snap’s success was likely due to the large number of advertisers it has. These brands have the marketing resources to adapt quickly to changes in the industry, while Meta’s advertiser base consists of small- to medium-sized companies that are slower to change, Rich Greenfield from LightShed Partners said during a Thursday interview with CNBC.

If Twitter Inc Next Thursday’s (NYSE:) Snap will report on the trends that have propelled Snap against the major technological changes of Apple. Analysts believe that the social network site will be somewhat shielded from Apple as it is used mainly by advertisers to reach audience members around current and live events and less on Apple’s device identifiers.

Twitter announced in April that it had integrated with Apple’s SKAdNetwork ad measurement tool. This resulted in a 30% increase of Apple devices which Twitter could use to target advertising.

Pinterest, a digital pinboard site, announced that it is investing in video features as well as creator-led content to increase engagement and revenue.

In an interview with Bloomberg, Todd Morgenfeld, Pinterest’s Chief Financial Officer stated that while the company hasn’t seen any material changes from Apple’s actions so far it may in the near future.