TikTok might be the hottest social media company around right now, dominating the lists of the most downloaded apps, but its older cousin Snapchat is quietly making headway as well — announcing recently that they have almost hit 300 million daily active users.
3 years ago Snapchat wasn't in great shape. Kylie Jenner didn't like its redesign (which actually moved the stock) and Instagram had copied its best feature (stories). User growth had stalled, and even gone negative for a few quarters, and the users it did have it wasn't monetizing very well, eking out less than $0.50 a month in average revenue per user.
Fast forward to today and things look very different. Mini apps, tweaks to the design, a new android app and an investment into AR (lenses and filters) that is now paying off has meant that since mid-2018 SNAP has added more than 100 million daily active users, and more than doubled the amount it gets in advertising revenue from each one.
