Shapchat: Hottest Social Network for US Teens, Adult Users Increasing

Shapchat Sees Increase In Adult Users:

Kwame Opam, The Verge news editor, discusses "what's cool" among teens, and whether older people getting on Snapchat will ruin the app's popularity. Published July 6, 2016

Domain: snapchat.com

Funding & Valuation:
Snapchat raised $485,000 in its seed round and an undisclosed amount of bridge funding from Lightspeed Ventures. By February 2013, Snapchat confirmed a $13.5 million Series A funding round led by Benchmark Capital, which valued the company at between $60 million and $70 million. In June 2013, Snapchat raised $60 million in a funding round led by venture-capital firm Institutional Venture Partners. By mid-July 2013, a media report valued the company at $860 million. On November 14, 2013, The Wall Street Journal reported that Facebook offered to acquire Snapchat for $3 billion, but the cash offer was declined. Tech writer Om Malik claimed on November 15, 2013, Google offered $4 billion, but the offer was declined. December 11, 2013, Snapchat confirmed $50 million in Series C funding from Coatue Management. Four more funding rounds, from December 2014 to March 2016, amounted to approximately $1.2 billion and totaled funding at $1.36 billion. Beyond 2014, the company had achieved a valuation of $10–$20 billion, depending on the source. Reports in 2016 suggested funding at about $3 billion, and a target of a billion dollars in annual revenues. [Wikipedia]

Data on US smartphone owners using Snapchat, April 2013 vs April 2016:
source: Statista

Snapchat has mainly be known as a messaging app used by teenagers and college kids but older adults are now increasingly using the app. According to comScore.com, the percentage of 25- to 34-year-old smartphone users in the United States who use Snapchat has risen from 5 percent three years ago to 38 percent in April 2016.
Tweets by Snapchat

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Why Snapchat Is Worth Billions, Hottest Social Network Among US Teens

Statista.com

According to a recent regulatory filing, Snapchat (domain name: snapchat.com ) raised an additional $1.81 billion in funding from various investors. Since 2011, the company behind the popular chat app has raised more than $2.6 billion and is currently valued at around $20 billion.

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

Statista.com

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.

Tweets by @Snapchat

See also on Domain Mondo: The Biggest Apps, More Than A Billion Users Monthly, Timeline Chart:


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