Snapchat Experiences Massive Q2 Growth Thanks To Face Filters
Snap stocks rise by 12% in the second quarter of 2019, leaving behind the Wall Street Journal expectations.
Business Insider says, the main reason behind the enormous growth is the reality lenses feature of Snapchat. Many users of the app have appreciated the gender-switching filter.
Since the release of the new feature in May, Snapchat captivated 7 million new users on the app within five days. The company reported $388 million revenue in second-quarter, while Wall Street predicted $360 million.
The Multimedia Messaging app company has been struggling for long to attract users. Competitors like Tik Tok is one of the reasons for losing users.
Most of the social media platforms get a high growth when the content is new, but as time passes, chances to lose popularity may occur. Well, to hold the current users and bring new users, Snapchat has to keep updating its app with more new content.