An app that generated just $59 million in revenue last year, Snapchat is extremely popular among young Americans. Having recently inherited the teenage social media crown from Instagram (domain name: instagram.com), it caters to a new generation of users for whom Facebook and Twitter are old news. Snapchat’s highly engaged user base is growing rapidly. According to an investor pitch deck that surfaced last week, the number of people using Snapchat every day grew by around 50 percent in each quarter last year. By the end of 2015, Snapchat had 110 million daily active users who combined to an impressive 10 billion video views per day.
Is #Snapchat Really Worth $20 Billion? https://t.co/YXjJoH6b3k #smm pic.twitter.com/L3eRver523— Social Media Today (@socialmedia2day) May 30, 2016
28 percent of the 6,500 teenagers polled this year named Snapchat as their most important social network, propelling the chat app past Instagram and Twitter, which both saw their popularity among America's youngsters decline over the past 12 months. Snapchat may have conquered the hearts of teenagers, but it has yet to win over advertisers. According to a recent report, the app trails its peers by a mile in terms of utilization in advertising campaigns.
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