Snapchat Had Up To 40 Lakhs New Users In Quarter 1 2019

Snapchat has reportedly added 40 lakhs new users in Quarter 1 2019. That means the photo-messaging application reached a revenue of $320M, which shows the year-over-year growth rate of 39 per cent. The considerable number surpasses the one predicted by Wall Street.

In the first quarter of this year, the number of its active users per day hit 190 million, increasing by 2% from 186 million of the quarter 4 2018. However, the number is lower than that of the first quarter of last year (191 million).

On April 23, Evan Spiegel, the CEO of Snapchat, stated that "In the first quarter we delivered strong results across our business with growth in daily active users and revenue. Our new Android application is available to everyone, with promising early results.”

As per Snapchat’s new app, its size is 25% smaller but can be opened 20% faster. In addition, developers have made a lot of efforts to bring more ideal innovation.

On March 2019, Snapchat advertisements approached up to 75% of the total consumers in the United States between the age of 13 and 34. The percentage is even higher than that of the video-sharing social networking service Instagram owned by Facebook. Next month, the company plans to introduce 10 new original shows to its users.

According to the company,

Up to the present time, Snapchat is providing over 450 premium channels with diverse contents in the whole world. Evan Spiegel said,