Evan Spiegel’s Snapchat App for viewing disappearing photos and videos has grown to 8 billion video views per day, the same traffic that was reported for Facebook last year. Snapchat’s CEO according to a Bloomberg report told an audience full of public market investors at the Morgan Stanley Technology Conference on Monday, that Snapchat users are spending between 25 to 30 minutes every day viewing ‘snaps’ on the App.
The news comes at a time when the App which boasts over 100 million active users is looking into advertising and is making sure that bankers understand what this means to them. Snapchat which is not currently releasing its user metrics seems to be making huge steps in taking over both Facebook and YouTube video content rivals.
The company which also inked a deal with Viacom to help it sell ads, is valued at $16 Billion and this move only keeps them well on the way for making even bigger bucks. Snapchat’s growth is truly tremendous and is one to watch closely!