Last Update: February 18, 2023, 08:00 IST
Snapchat continues to grow its userbase in various markets
The company now aims to cross the billion mark in the next few years.
Snapchat has surpassed 750 million monthly active users, its parent company Snap announced on Friday.
Snap CEO and co-founder Evan Spiegel made the announcement at the company’s “Investor Day”.
“With 375 million daily active users (DAUs) reported as of January 31, we have now clocked +15 percent year-on-year DAU growth for 13 consecutive quarters,” the company said in a statement.
In a blogpost, the company said that at the current growth rate, “we see a path for Snapchat to reach more than 1 billion people in the next two to three years.”
More than 60 percent of Snapchatters who open the app each day create Snaps, and more than 70 percent of users who download the app engage with augmented reality (AR) on their first day in the app.
The company further noted that “time spent per Spotlight viewer now meaningfully exceeds time spent per Story viewer watching friend stories.”
In addition, Snapchat+ has reached over 2.5 million subscribers and “exceeds $100 million in annual revenue.”
“Today, we’re excited to share that our community now has over 750 million monthly active users. We reach more than 75 percent of 13 to 34 year olds in more than 20 countries, with these countries representing more than 50 percent of the advertising market,” Spiegel said.
“On average, more than 5 billion Snaps are created every day, the best of which our community submits to the spotlight,” he added.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)