Snapchat surpasses Twitter in daily users. Yes, and…?
Recently more news leaked about Snapchat. Given the iron fist Evan Spiegel operates the company by, I’m assuming it was tactical.
The headline most people seized on was this: Snapchat has passed Twitter in daily usage.
Of all the secrets that could astound me about Snapchat this isn’t one.
As Nick Bilton laid out in his excellent story on Jack Dorsey’s so-far doomed leadership, plenty of sites have already passed Twitter:
Twitter, which was once among the hottest companies in Silicon Valley, had stopped being cool. It had lost out on news to Facebook; on millennials to Snapchat; on China and India to WhatsApp. Instagram was eviscerating it on images. In a remarkably short time, it had slid from the second-largest social-media company to the ninth. And while Twitter still had 300 million monthly active users—or M.A.U., as they are known in Silicon Valley—it had stopped growing. And there is nothing scarier in Silicon Valley than a company that has stopped growing. As a result, Twitter’s stock had been on a jagged decline for 18 months.
Add to that the fact that Twitter has essentially stopped growing in users, hence its free fall in valuation. And add to that the fact that even Facebook has said messaging is already outpacing social media. And add to that the fact that WeChat and Snapchat are pretty much the only two major messaging apps that Facebook doesn’t own.
Valuation-wise Snapchat is worth two Twitters. If Snapchat weren’t large than Twitter, I’d be concerned.
Word to Snapchat “leakers”: Punch up. Beating Twitter isn’t a bragging right if you are in a larger market and valued at one of the highest prices in startup history.