Snap reaches 500 million monthly users

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Evan Spiegel, CEO of SNAP Inc.

Stephen Desaulniers | CNBC

Snap said Thursday that its social media app Snapchat has reached 500 million monthly active users.

This is a significant milestone for Snap, a company that refused multi-billion dollar acquisition offers by Facebook before it went public in 2017 and survived an ill-fated redesign in 2018 that its users hated.

Snap had never released monthly-active-user figures before Thursday. Rather, the company had always focused on its daily user base, which reached 280 million in April. That’s up 22% compared to a year prior.

To be sure, the company’s 500 million monthly users are just a fraction of the 2.85 billion who open Facebook each month.



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