Currently, Snapchat is the fastest growing social media platform – and by a wide margin. The platform that was once known as a network for “sexting” has now turned into the most popular social media platform around. Attracting users of all ages, as well as media companies like ESPN, Vox, Buzzfeed, CNN, IGN and many others, to advertise in their “Discover” section of the app. Snapchat is expecting to be a “billion dollar company” next year, and at this rate, they will definitely be one.
According to an SEC filing that was made today, Snapchat has raised $1.8 billion in its Series F round of funding. Of that amount, $1.158 billion has been raised in the last five months. Investors in this Series F round include T. Rowe Price, General Atlantic, Sequoia Capital, Lone Pine, Glade Brook Capital, IVP and many more. TechCrunch also obtained some of the company’s revenue and forecasts for the future. Snapchat has brought in $59 million in revenue in 2015, and it is now looking to ramp up their business in earnest. The forecast for 2016 shows that Snapchat is expecting revenue to be between $250 million and $350 million for 2016, with 2017 being between $500 million and $1 billion. That’s quite the jump for Snapchat, especially after only posting revenues of $59 million for 2015. However, you do have to remember that Snapchat didn’t have any means of bringing in money until around the middle of 2015. Which is why their revenue was low in Q1 and Q2 of last year.
The leak that TechCrunch got their hands on also shows some numbers on daily active users. As of December 2015, Snapchat had around 110 million daily active users. That is up from 74 million the year before. It also shows that Snapchat grew tremendously between September and December 2015. From 99 million in September to 110 million in December.
Snapchat is continuing to grow. While they have 110 million daily active users, they are also boasting about 10 billion video views per day. That’s right up there with the numbers that Facebook is seeing on its video product, as well as Instagram. Snapchat is said to be valued at around $20 billion – of course that depends on who you ask.