Snapchat now has over 100 mn monthly users and is valued at $10bn

Saqib Shah
August 27, 2014

We all know that Snapchat is popular among younger users – or “millenials” as they’re annoyingly referred to – but just how many people actually use the app?

Well, it turns out that it’s a sizeable amount, which to a certain extent justifies the $3 billion price tag Facebook offered for the service.

Not that Snapchat needs the money anymore.

After a new $20 million investment from Kleiner Perkins Caulfield & Byers, the app is now valued at a stunning $10 billion.

In regards to its internal metrics, which Snapchat has kept under wraps in the past, sources who have been briefed on the matter have revealed it now has over 100 million users.

That’s a lot of teenagers. If , like us, you’re obsessed with stats and demographics, then you’ll be interested to know that the new figure is way higher than the sum that was  touted by third-parties in the past.

As recently as June, research firm ComScore estimated that a meagre 27 million people used the app.

If we’re to compare the new figures with those of other social apps, then its clear that Snapchat’s niche keeps it lagging behind other platforms.

Facebook-owned instant messaging service WhatsApp is the clear leader with 600 million monthly users and Twitter (which is worth $29 billion) has 271 million monthly users.

Snapchat is currently thought to be searching for ways to monetise its platform. The company has discussed everything from launching a new service based around news feeds and ad content, to adding additional e-commerce functions to the app.

About the Author

Saqib Shah

Tech/gaming journalist for What Mobile magazine and website. Interests include film, digital media and foreign affairs.

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