Snapchat’s growth is gaining on Facebook and Twitter. The social platform recently released its first quarter financial results for 2022, reporting it’s growing faster than Facebook (a.k.a. Meta) and Twitter while growing its daily active users 18% YoY to 332 million. Though that number is slightly less than its user growth for the five previous quarters, which jumped more than 20%, it still exceeds Facebook’s loss in daily active users last quarter and Twitter’s 15% international growth. With 250 million Snapchatters engaging with its augmented reality (AR) features daily, Snap is betting on more AR experiences, starting with rolling out upgrades to AR shopping and community-generated AR experiences for local landmarks. The Snap Partner Summit also kicks off this week, where Snap will announce new products and services for brands to know. Snapchat has become a destination for brands to engage with young consumers via AR experiences, and it currently overtakes Twitter on the list of Gen Z and Millennials’ favorite apps. (TechCrunch)
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