Snapchat now has over 500 million active users; attracting more advertisers

Snap's revenues have grown significantly too, beating expectations.


Alfred Lee

24 May, 2021

Snapchat now has over 500 million active users; attracting more advertisers | BEAMSTART News

Snapchat is one of the most addictive social media apps in the world, pioneering the "stories" video format people love.

Just last Thursday, parent company Snap revealed a little more on the company's user numbers at the Snap Partner Summit.

Key Highlights

  • Snap announced that Snapchat has over 500 million monthly active users.
  • The company is also rolling out features to help content creators monetize their content.
  • Snap plans to provide advertisers with more opportunities to market their offerings differently to their growing userbase.

Why It Matters

  • Snap is doubling down on its business offerings, introducing e-commerce capabilities, public profiles, and event a more interactive way to shop.
  • With the company's user numbers growing, this could present a massive opportunity for advertisers to reach the younger audience that Snap has a grip on.
  • Snap has also increased its investments in the Augmented Reality (AR) space, coupling it with gaming-related features (ie: users can build a lego kit together).
  • The company recently launched "Screenshop", allowing users to scan a person's outfit and buy it instantly online (similar to Google Lens).
  • Facebook is still the market leader in the social media space, with over 2.8 billion monthly active users.

Latest Jobs

Chief Executive Officer

Healthuno Healthcare India

Chennai, India (इंडिया)

Full Time

Salary Undisclosed

React Native Developer

SegWitz Sdn. Bhd.

Bandar Puteri Puchong, Malaysia

Full Time

MYR 4000 monthly

Affiliate Marketing Manager

Binance

Singapore

Full Time

SGD 2000 — SGD 2500 monthly

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).