Snapchat managing an incredible 319 million daily active users

Snapchat had its best year financially turning in a profit for the first time since going public in 2017. This happened on the back of its seeing 319 million daily active users, which was a 20% year-on-year rise. This is a very creditable performance at a time when its fellow social media company and industry supremo Meta reported that Facebook lost a million daily active users during the year.

Understandably the CEO Evan Siegel was over the moon with the development and attributed it to the intrinsic strength of their core business which allowed the company to invest in augmented reality, thereby bringing about a radical change in the manner that the Snapchat community viewed through the Snapchat camera. 

With a revenue of $1.3 billion in the last quarter of 2021 increasing the profit by a very healthy 42% causing a 52% increase in the stock price, the company’s investors have much to look forward to. This is accentuated by the fact that the company boasted a 64% growth in its full-year revenue. Clearly, Snapchat has come a long way in terms of growth and profitability. One of the reasons for this could be the fact that Applies iOS privacy changes did not seem to have the same impact on Snapchat’s growth that it had on other social media platforms. Going forward the company sure will receive a lot of attention for the path it charts out for itself.

It is interesting how social media platforms are recalibrating strategies to evolve with the challenges of the pandemic times with subscribers’ content consumption patterns ever-changing. Add to that the fact that technology is redefining paradigms all the time, we have ourselves in a very dynamic situation. That is where Snapchat’s success is so remarkable.