Snapchat has been one of the most exciting social media growth stories of 2016. In our story ran late in 2015, we predicted that 2016 would be Snapchat’s year, half way through the year that call is looking very promising.
Users of the wildly popular Snapchat app has surpassed Twitter in daily active users at 150M users, still far behind Facebook’s 1 Billion plus daily active users.
Chief Equity Analyst at Sun Trust Bob Peck said today in an analyst note that while he is still long on FB, Snapchat continues to steal users away from the social media giant.
“We think that Snapchat is evolving beyond just ‘another social media platform’ and could be headed to be the first ‘social augmented reality platform’ (SARP),” said Peck.
While he maintains that the trend is a minor threat to Facebook and Instagram, it is still worth monitoring, particularly as Instagram has seen user growth slow of late.
This news comes at Instagram just Hit 500 Million in Monthly Active Users.
Remarkably, 80% of Instagram users are overseas.