Snapchat Is Growing Faster Than It Has In Years 22
Snapchat is growing faster than it has since 2017, the year it went public. The Verge reports: On Thursday, the camera-based messaging app said it added 13 million daily users during the second quarter, a 23 percent increase from the year-ago period. That means 293 million people use Snapchat every day around the world, up from 173 million this time four years ago. (Twitter reported 206 million daily users in the second quarter, by comparison.) Snap's revenue also soared 116 percent to $982 million, making it a faster growing business than Twitter or Facebook.
The new numbers solidify one of the most impressive turnaround stories in tech. They also reflect how tech companies have benefited throughout the pandemic as people increasingly spend more time online. Snap CEO Evan Spiegel has said he expects the app's user base to actually grow faster as pandemic lockdowns end, since Snapchat is designed to be used out and about with friends.
The new numbers solidify one of the most impressive turnaround stories in tech. They also reflect how tech companies have benefited throughout the pandemic as people increasingly spend more time online. Snap CEO Evan Spiegel has said he expects the app's user base to actually grow faster as pandemic lockdowns end, since Snapchat is designed to be used out and about with friends.
Welp, I was wrong (Score:3)
I remember two stories on slashdot about Facebook offering to buy snapchat for like $1e9 and then some larger number (before the IPO). Both times I smugly wrote comments along the lines of "Christ, what an idiot for not taking the money and running". Now it's worth 3x the IPO price.
And that's just one of the very many reasons I'm not a billionaire.
This is also an excellent example of why you shouldn't get stock tips from smug arseholes on slashdot. Just sayin'.
Re: (Score:3)
Re: Welp, I was wrong (Score:3)
Everything is overvalued, but it's still impressive so many people consume advertising to send eachother selfies.
Re: Welp, I was wrong (Score:3)
speaking of advertising, apparently it is lucrative enough to have built the largest tech companies today and sustained their growth over the past 20 years. It has built personal fortunes as well, for content providers.
I just had no idea that advertising itself had that much market potential. Perhaps social media itself is basically a form of personal advertisement, so all we are watching is just ads
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At this point in time, with heaps of cash looking to be parked in literally anything except cash, like, is it because of snapchat, or is just the whole tech stocks "rising tide" lifting all boats, so to speak?
It's because of QE causing the biggest asset bubble in history. But thankfully, the central banks have worked out how to prevent bubbles from bursting, they just engage the QE engine...oh. Oh, dear.
No, probably the same reason I'm not a billionaire (Score:2)
because it's not rational for trash like that be "worth" so much.
Business analysis is taught, and often thought of even by professionals as entirely technical - but the truth is the markets are much more about psychology and sentiment than facts.
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Sex sells. That is an economic constant. It doesn't have to be Porn, Prostitution, or Match Making either. Just a tool that helps people between the ages of 13-30 flirt with someone else is going to be a big hit.
Do you think the giant Telco got where they are from business communication? No they got big, due to teenagers - young adults wanting to call their friends, and especially love interests. When they got Cell phones, then they could do this without having someone pick up the line or nag them for bei
Re: (Score:3, Interesting)
Sex sells. That is an economic constant. It doesn't have to be Porn, Prostitution, or Match Making either. Just a tool that helps people between the ages of 13-30 flirt with someone else is going to be a big hit.
The only thing that has managed to eclipse internet addiction in society today, is the addiction to narcissism. Attention Whore is now a respected and highly paid profession for those among us who are the best at it. They are worshiped by the masses, which is why they're millionaires.
Sure people may use it to share short videos of their kids, or perhaps send a quick video information blurb that isn't worth saving. But its growth and usage is due to people wanting to flirt with each other, in hope for sex.
I guess Match, Tinder, Bumble, and every other dating/flirting/fucking app, should start questioning why they exist then, or why they even bother asking for all that extra personal information on you in order to tune algorith
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because it's not rational
Zack Weinersmith said it best.
https://www.smbc-comics.com/co... [smbc-comics.com]
The stock market is optimized for irrationality.
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It absolutely makes sense for Snapchat to be worth that much.
Look, try to not be an old man for a moment and think about who this is aimed at, who wants to use it, and ignore that you don't care about it.
Snapchat and lots of other social media is popular because so many younger people grew up with phones being a big part of their lives. It's how they connect and communicate. What you're saying is akin to people 20 years ago saying that texting or chat apps were useless. They aren't. People like them.
Do I fu
Normalizing Addiction. (Score:2)
"Snap CEO Evan Spiegel has said he expects the app's user base to actually grow faster as pandemic lockdowns end, since Snapchat is designed to be used out and about with friends."
You know how to normalize internet/app addiction? Market it like it's a fucking investment.
Easy sell. Not like anyone wants to admit they're addicted anyway.
I cringe thinking about the stability of society when a major extended outage happens. Sad that system uptime is going to be tied to mental health soon.
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What's not to like?
When the concept of "going postal" is amplified exponentially due to mass addiction.
Even if only 1% of people did this, that's still over a million nutjobs who lost their shit and turned their sights on innocent victims.
Porn. Gaming. Gambling. Narcissism. There are sadly too many addictions that are kept in check with an internet connection. Shut that down, and addicts tend to break down rather quickly.
Sex Workers (Score:3)
Funny. The article doesn't mention just WHY so many more people are using Snap Chat. It's yet another venue for OnlyFans style online sex workers.
Vacuous wate of time (Score:1)
WTF is Snapchat ? (Score:1)
I mean, I have heard of it, but only in news stories that don't catch my attention.
Why should I care about yet another social media platform in an already saturated market ?