Snapchat is growing faster than years

Just a couple of years ago, there was concern that Snapchat’s parent company, Snap, would not survive as an independent company. Its stock price rose to about $ 5 after a devastating redesign that hurt user growth and confused advertisers.

The situation is now much different. The camera-based communications app is growing faster than it has been since 2017, the year it was released. On Thursday, the company said it added 55 million daily users during the second quarter, up 23 percent from a year ago. This means that 293 million people use Snapchat every day around the world, up from 173 million this time four years ago. Snap’s revenue also rose 116 percent during the period to $ 982 million, making it a faster-growing business than Facebook or Twitter.

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