 "Snapchat")
Snapchat has crossed over 750 million monthly active users, its parent company Snap announced on Friday.
Snap CEO and co-founder, Evan Spiegel, made this announcement at the company's "Investor Day".
"With 375 million daily active users (DAU) reported on January 31, we have now grown DAU by +15 per cent year-over-year 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 over 1 billion people in the next two to three years."
More than 60 per cent of Snapchatters who open the application each day create Snaps, and over 70 per cent of users who have downloaded the application engage with augmented reality (AR) on their first day in the app.
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The company further mentioned that "time spent per Spotlight viewer now meaningfully exceeds the time spent watching Friend Stories per Story viewer."
Moreover, Snapchat+ has reached more than 2.5 million subscribers and "an annual revenue run rate of over $100 million."
"Today, we're pleased to share that our community has now grown to over 750 million monthly active users. We reach more than 75 per cent of 13- to 34 year-olds in over 20 countries, with these countries representing over 50 per cent of the advertising market," Spiegel said.
"On average, over 5 billion Snaps are created every day, the best of which our community submits to Spotlight," he added.
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