Snapchat is an image and video messaging app, developed by Stanford University students Evan Spiegel, Bobby Murphy, and Reggie Brown in 2011.
Its unique selling point was that photos and videos sent to friends would only be viewable for a set duration of 1 to 10 seconds, although Snapchat has removed these limitations.
A number of additional features have also been added, the first of which was Stories. This allowed users to post photos and videos to a feed for 24 hours. The feature was notoriously cloned by Facebook’s Instagram.
Memories, launched in 2016, was another step towards saving images for longer. When an image is saved or uploaded to Stories, the user is reminded of the event a year later.
Part of the reason for adding new features was to find ways of generating revenue. In 2014, Snapchat only made $3.4 million revenue, while losing over $500 million a year. It added mobile payments in 2015 in the United States, in a partnership with Square.
It also debuted augmented reality glasses, known as Spectacles, in 2016. While the debut received significant media attention, the glasses never caught on with the wider public, leading to Snapchat scaling back the division and embedding AR into the mobile app.
Snapchat has added original video series to the app, in the form of Snapchat Originals. ABC, BBC, Buzzfeed, Metro-Goldwyn-Mayer and NBCUniversal have all been tied to Snapchat Originals, although only a few have launched since it debuted in 2018.
The search for new forms of social interaction came as Snapchat’s growth started to stagnate, with daily active users decreasing from 191 million in Q1 2018 to 186 million in Q4 2018. This sent the company’s stock tanking, from a high of $27.09 at IPO in 2017 to $4.92 on 21 December, 2018.
The stock price has since recovered and experienced a significant rise in October 2020, when it went from $26.64 at the start of the month to $39.39 by the end. It has continued to climb since, off the back of several quarters of solid revenue and user growth.
That said, early projections of Snapchat as the app to take on Facebook seem very unlikely. Snapchat has found a market, especially in teenagers, however it has struggled to win over older users, who are still stuck on Instagram and Facebook.
We have collected data and statistics on Snapchat. Read on below to find out more.
Snapchat key statistics
- Snapchat generated $2.5 billion revenue in 2020, a 47 percent increase year-on-year
- Snapchat has not recorded an annual profit, with a $945 million loss in 2020
- Over 280 million people use Snapchat daily, 38 percent are located in the US
- Snapchat stock value has increased by over 350 percent from 2020 to 2021
|Launch date||8 July 2011|
|HQ||Santa Monica, California|
|People||Evan Spiegel (CEO, co-founder), Bobby Murphy (CTO, co-founder)|
|Business type||Public (NYSE: SNAP)|
Snapchat annual revenue
Note: Parentheses indicates loss
Snapchat annual users
Note: Values are daily active users in Q2 of each year
Snapchat users by region
|Year||North & Central America||Europe||Rest of World|
|2014||30 million||18 million||9 million|
|2015||40 million||29 million||18 million|
|2016||61 million||46 million||36 million|
|2017||75 million||57 million||42 million|
|2018||80 million||61 million||47 million|
|2019||83 million||64 million||56 million|
|2020||90 million||71 million||77 million|
Note: Europe includes Russia and Turkey
Snapchat users by country
|United States||108 million|
|United Kingdom||21.1 million|
|Saudi Arabia||19.6 million|
Note: Values as of January 2021
|2017 (IPO)||$25.5 billion|
Note: All valuations post IPO were during April of the each year.
Sources: Crunchbase, Yahoo Finance
Snapchat funding (total)
Sources: Business Insider, Crunchbase
Snapchat users vs competitors
How long does the average Snapchat user spend the on the app?
The average Snapchat user spends 30 minutes on the app, according to Snapchat. Previous estimates range from 27 to 50 minutes
How many people have used Spotlight on Snapchat?
In March 2021, 125 million Snapchat users used Spotlight
How often do Snapchat users open the app per day?
In 2019, users opened Snapchat 30 times a day on average (TechCrunch)
How many snaps are sent a day?
In 2020, four billions photos were sent on Snapchat on average everyday
What are the age demographics of Snapchat?
How many lenses have been created on Snapchat?
Over one million lenses have been created as of Q1 2021
What percentage of US teens use Snapchat?
82 percent of US teens use Snapchat once a month and 36 percent say it is there favourite social platform (Marketing Charts)
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