Snapchat usage Snapchat is one of the most popular social networks worldwide. In 2020, there were almost 347.3 million monthly Snapchat users worldwide. Snapchat’s user penetration in the United States is projected to start experiencing a slow decrease in 2022, passing from 40 percent in 2021 to 39.6 percent in 2024.
Snapchat company While Snapchat’s annual company revenue grew to 2.5 billion U.S. dollars in 2020, the company has yet to report a positive net income. In the most recently reported fiscal year, Snapchat’s net loss amounted to 944.9 million U.S. dollars, highlighting the company’s struggle to monetize their predominantly young user base. As stated in their latest annual report, Snapchat’s user base may be less brand loyal and more likely to follow trends than other demographics, including switching to another product. The company is also fully dependent on advertising revenues and relies on third-party services for application infrastructure services. Subsequently, Snapchat’s research and development spending focuses on product development, advertising technology and large-scale infrastructure. In 2020, the company’s R&D expenditure amounted to 1.1 billion U.S. dollars.