Snapchat is one of the most popular apps among millennials. The app is known for its video and photo sharing feature that allows users to show their followers what they are up to as the day goes by. The messages shared on Snapchat disappear after 24 hours and this has been its identity ever since it was launched.
The company behind Snapchat, Snap, recently went public through an IPO and this means there is a lot of pressure to show investors that it is growing and can attract new users going forward. Most people have pointed out the Snapchat has no future as its business attracts millennials only and this isn’t that convincing to investors.
Well, millennials or not, it looks like Snapchat is attracting new users by the day. The company has crossed the 500 million-installs mark on the Google Play store. This is huge and especially for an app like Snapchat that many people are not confident will be around for long. These are the sort of figures investors are looking for when deciding if investing in the company behind Snapchat is a good idea or not.
What is also impressive is that the 500 million installs are for the Google Play store only. The number will rise even higher when you include those on iOS who downloaded it from the App store. At this point we can say that Snapchat has been downloaded close to one billion times ever since it was launched a couple of years ago.
Even though the number of times Snapchat has been downloaded is huge, the app has a long way to go as not all those who downloaded the app are actively using it. The number of people actively using it every month is what will determine its success considering the fact that it relies on ads to make money. Advertisers want apps that have a good number of people who are actively using it and Snapchat has to prove it is worth investing in.