1 March, 2016, USA: In his recent message to the investors, Evan Spiegel, CEO, Snapchat said, “The app is growing quickly, and young people love it.”
People using the application for disappearing photos view 8 billion videos a day, the same number that Facebook reports, the CEO told an audience at the Morgan Stanley technology conference on Monday. While addressing the gathering that includes the bankers and the investors, Spiegel explained, “Snapchat’s app has more than 100 million daily users who spend an average of 25 to 30 minutes on the app each day.”
CEO touched each and every corner of company’s growth making sure that he provides ample amount of information to allure the interest of the investors. In its last round of funding, company had managed to acquire US $16 billion funding which was raised on the basis of company’s valuation. Snapchat’s appeal lies in its popularity in a young demographic addicted to their mobile phones, and the app reaches 41 percent of the 18- to 34-year-olds in the US each day, Spiegel said.
Snapchat has a small sales team and a lot of rules for advertisers to follow—for example, it only accepts vertical video clips. The company is also seeking to make it easier for marketers to track its impact and buy advertisements, reports Bloomberg.