Snapchat Is Quietly Building an Impressive Video Business
Imagine a company that reaches a people other companies struggle to engage, and which enjoys an expanding demographic reach, a fast-growing video presence, and an app that users open 30 times a day on average. Many investors think of social media company Snapchat as the crazy picture sharing-app that young people use -- but that misunderstanding could spell opportunity for savvy investors.
On Snapchat's Q2 2020 conference call, Chief Business Officer Jeremi Gorman said the service reaches 90% of 13- to 24-year-olds, and 75% of 13- to 34-year-olds, in the United States. Users are attracted to the service because its default setting makes shared items disappear shortly after their recipients view them.
Source: Sprout Social. Chart by author.
Source Fool.com
