Snapchat Surpasses Facebook Inc (FB) In Daily Photo Shares

SnapchatMarcoGonzalez / Pixabay

Last week saw millions of people unfamiliar with Snapchat reading a Wall Street Journal report that the company turned down a $3 billion cash offer from Facebook Inc. (NASDAQ:FB) for the impermanent photo sharing application. That report was followed by numerous others that suggested that Google Inc (NASDAQ:GOOG) then offered $4 billion and was similarly rebuffed. If the average Snapchat user (read: teenagers sending selfies) finds out that his or her mom is now using the application, Snapchat CEO Evan Spiegel is going to wish he took the money and ran.

Whether you believe that Mr. Spiegel is foolish for turning down the offer or not, the fact remains that the company IS seeing ridiculous growth in its daily users and the amount of photos that they are sending.

Snapchat numbers show huge growth

Snapchat now shares 400 million snaps each day, according to CEO Evan Spiegel, who confirmed the number to TechCrunch today as reported by Jordan Crook.

In September on the Disrupt stage at the San Francisco Design Center, Spiegel announced that users of Snapchat were sharing 350 million photos per day and that that number was up from 200 million in June. Clearly, this is remarkable growth, but whether it’s sustainable is a whole different animal.

Either way, the numbers are impressive if they are forthright. 400 million photos daily represents a number that Facebook Inc (NASDAQ:FB) and its property Instagram can’t match as an aggregate much less individually. The bulk of this growth is due to Android users’ increased use. The Android app was released considerably later than its iOS counterpart.

App not truly anonymous

The sharing numbers make sense given the “private” nature of the app. The quotes are due to the fact that your pictures aren’t truly erased. You can’t comply with federal warrants and offer a truly anonymous sharing application that won’t invariably used for the spread of child pornography. Never mind the fact that there are a number of screen capture capabilities in most smartphones that work around the (up to) 10 seconds of viewing that Snapchat allows.

All that said, Snapchat is enjoys a growing following, a following that allows its founders to claim bigger numbers that Facebook, while turning down insane amounts of money.

For exclusive info on hedge funds and the latest news from value investing world at only a few dollars a month check out ValueWalk Premium right here.

Multiple people interested? Check out our new corporate plan right here (We are currently offering a major discount)

About the Author

Brendan Byrne
While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. To contact Brendan or give him an exclusive, please contact him at [email protected]

Be the first to comment on "Snapchat Surpasses Facebook Inc (FB) In Daily Photo Shares"

Leave a comment