In the race of daily users, Snapchat seems to have surpassed Twitter as digits are the evident judges to this statement. With 150 million active users on Snapchat every day, Twitter is lagging behind with approximately 140 million users; while Snapchat seems to be mounting each day, the 140 tweeting platform has stalled.
Snapchat and Twitter are mediums of different genres, the former being more about engagement and light-hearted banter, Twitter tries to convey everything under the sun in 140 characters with sharable media. Although Snapchat is just 5 years old in the market it has managed to grow bigger and faster than a decade old Twitter.
Back in December Snapchat catered to 110 million daily active users which means that in the last five months, it grew its user base by more than 35 percent. Whereas, Twitter has grown its user base by a mere 3 per cent globally.
Twitter’s stock price has drowned more than 55% since Jack Dorsey took over the seat of the C.E.O back in 2015, and the organisation is now worth around 10 billion dollars, while Snapchat’s valuation was recently nailed at 18 billion dollars.
It is now in the process of increasing the character limit of rich media from 140 characters. This, however, could defies Twitter's core proposition and could work against it.
Snapchat too recently upped its game by creating Snapchat 2.0 which has a much more holistic chatting experience. The app has been experimenting with its app options too, to keep the brand end healthy. Their Discover page which offers content from publishers such as Cosmopolitan and Mashable is one of the major sources of revenue for them.
Though these current statistics do not define the life of any social media platform, for now, Twitter needs to pull up its socks to stay rigid in this competitive market.