Snapchat is growing faster than it has in years

guest · Jul 23, 2021

Snapchat is growing faster than it has in years
The ephemeral messaging app now has 293 million daily users
July 22, 2021
https://www.theverge.com/2021/7/22/22589236/snapchat-users-293-million-q2-2021

Just a couple of years ago, there were concerns that Snap, the parent company of Snapchat, wouldn’t survive as a standalone company. Its stock price bottomed out around $5 after a disastrous redesign that slowed user growth and confused advertisers.

The situation is much different now. Snapchat is growing faster than it has since 2017, the year it went public. On Thursday, the camera-based messaging app said it added 13 million daily users during the second quarter, a 23 percent increase from the year-ago period. That means 293 million people use Snapchat every day around the world, up from 173 million this time four years ago.
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Most of Snap’s user growth in the second quarter came from outside its core markets of North America and Europe, where advertisers pay more to reach people. That means Snap has lots of work ahead to monetize its new users effectively.

This quarter’s results also benefitted from a delayed rollout of Apple’s changes to data tracking in iOS 14, which makes third-party developers show a prompt asking permission to track users across different apps.
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