Snapchat surpasses 150million daily users

Four-year-old popular messaging app Snapchat Inc valued at £12.42bn ($18bn), passed over 150million people using the service each day, and is now more popular than Twitter Inc by daily active users. Increasingly more and more investors like Fidelity Investment, Atlantic and Sequoia Capital are looking to have a share in Snapchat, as it generated £40.71m ($59m) revenue last year,

Snapchat, had 110million daily users back in December 2015, has been growing rapidly, driven by its popularity among young people. Twitter, the short messaging service, founded in 2006, was once the largest social network after Facebook Inc, has less than 140million daily users interacting with the service, according to social network analysts, has since been overtaken by Facebook’s other apps including Instagram, Messenger and WhatsApp.

Twitter, has 310 million monthly active users, according to its earnings report, which translates to about 136 million daily user count. Twitter and Snapchat officially refused to comment.

Snapchat increased its popularity by letting people to post glossed selfies and short videos by using its imaging software to swap faces in a photo, transform themselves into puppies and barf rainbows. Back in March 2016, Facebook acquired the startup behind an app called Masquerade, which offers alternative photo-manipulation. However, Snapchat’s Snapsteak feature counts the number of consecutive days they’ve been communicating with their friends.