For users 25 and up, they visit the platform 12 times monthly and spends approximately 20 minutes. "ORCRP0017755-topic.html" class="local_link" >Snapchat - an app that lets people send each other photos and short videos that disappear after being viewed.
Twitter, which went public in 2013, will be one of the primary comparisons to how Snapchat's value will be judged, and it's not a great story.
Perhaps a more useful quote comes later in TechCrunch's piece: "If you have the user growth and feel secure enough to negotiate in other areas, why would you rush an IPO?"
But rather than die a fast death as a "sexting app", Snapchat showed a knack for evolving based on user whims and demands, just as Facebook has over the years. Twitter, which only reports monthly active users, had 218 million. Snapchat's competitors are nearly exclusively responsible for that decline. Before its IPO, the company had raised $2.63 billion in venture funding. Facebook dwarfed them both, with 845 monthly active users, and 483 million daily active users.
Snap has become extremely popular among youngsters between the age 18-24.
Many funds will be forced to own Snap when it is included in major stock market indices, she said, and the right to elect board directors should be fundamental, she added. At just over $1 per user per quarter, that's in the same ballpark as Facebook when it went public in 2012, and Mark Zuckerberg's $385 billion giant has pushed that up to almost $5 in the most recent quarter.
In some ways, Snap does look like Facebook.
Contrary to that, Zack's Investment Research, Madeleine Johnson expects big things from Snap.
In October 2016, we entered into an amended and restated offer letter agreement with Robert Murphy, our co-founder and Chief Technology Officer with respect to his continuing employment with us.
Snap continues to say its strategy going forward is to focus on advertising, which it can charge more for through increased customer use and engagement.
The company has three classes of common stock. Existing investors will have one vote for each of their shares, while new investors will have no voting rights. Like Mr Spiegel, he owns 227 million shares, which were worth US$3.7 billion at the end of past year.