Business

Speedy Progress of Snapchat – Leading the Tech World

Snapchat has been used very frequently by students. They share different stories and talk about their days via pictures. But what is actually happening behind the application? Are we witnessing a boost in the number of Snapchat users, or the application is touching its low? We will learn all about it in this blog. However, if you are too occupied with your Snapchat streaks that essay writing is becoming a problem, don’t worry! You can order essay writing service online and the problem will get resolved in no time.

A few Years Back

 

A few years back, we came across some concerns regarding Snap (parent company of Snapchat) which said that it would become tough for the company to survive alone. The stock price of the company bottomed out and reached around $5 following a redesign that brought miseries to the application. It resulted in slowing the growth of users and it left all the advertisers confused which meant that the business was at a loss.

The Progress Story

 

However, things have changed in recent times and the situation is very different now as compared to before. The application is making progress faster and people are getting addicted to it. Recently, the story-telling application added around 13 million daily users. The second quarter brought a fortune to the application as it showed a 23 percent increase in the number of users compared to last year.

Now, around 293 million people are using Snapchat on a daily basis. Meanwhile, four years ago, the count was 173 million, which shows the progress of the application. The revenue of Snap also soared 116 percent to $982 million. Its growth turned out to be faster than Twitter and Facebook. Twitter reported only 206 million active users in the second quarter.

Impressive Story of Tech World

 

The progress that Snapchat has made is highly impressive. It’s becoming one of the most impressive stories in the world of tech because of the massive turnaround in numbers. It is a sign of how tech companies are getting benefited with the lockdowns and the new “normal” which is all online based activities the people have to face because of this pandemic. Screen time is increasing rapidly for every individual and the world is getting digitalized.

However, the CEO of Snap, Evan Spiegel believes that his application will work better and gain more fortune once things get back to normal. He says that Snapchat is designed for users who hang out consistently and love to share their world with the public. When the world will become free for outings, picnics and dine outs, it will surely increase the business of Snapchat as well.

Surprising Surge in Users

 

Surprisingly, most of the users came outside from the core markets. These users were not only from North America or Europe but different parts of the world. Advertisers only pay good to reach out to the masses in these countries, but now, the company will have to think about boosting the monetizing process in other parts of the world as well. It is important to earn from places where customers are coming from. However, this quarter was also benefitted from the changes Apple made in iOS 14.

Comparison with Facebook

 

Snapchat and Facebook are the fastest-growing applications. They have been in high competition for a long time. However, what both applications have in common is a passion for AR (augmented reality). It is a technology that imposes computerized graphics in the real world and helps people see the world differently via phone screens or smart glasses. It is an innovation that is committed to making the life of human beings easier and advanced. The CEO of Snapchat has been flaunting about the investment company has made in AR. They are expecting a huge business from this technology and the company has recently worked on building shopping features. These features will help people in scanning a product online with the snap cam and they will be able to experience it virtually. People will also be able to buy the product online while staying in the application. Sounds interesting? Well, the tech future has a lot of surprises for all of us.

New Spectacle Glasses – AR Future

 

Snapchat has recently introduced its new spectacle glasses which supported AR displays to change the game. Although these glasses are only for selected AR creators, but the foundation stone has been laid. The CEO said that more than 200 million users of Snapchat engage with AR regularly and over 200,000 creators are using Lens Studio to create AR lenses for the community.

 

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Summary and Lessons for Students

 

That’s how Snapchat is leading the tech world. Time never remains the same as we saw how the company bounced back from being at the bottom recently. It is said that hard work always pays off and we have seen it in the case of Snapchat as well. However, if you are facing any issues in your academic life and you want to do something big in life, don’t think low. Never let your academic failure decide your future. Education is very important, but it does not mean that you cannot have a good future without impressing grades.

You can always call upon the experts of Essay writers UK if your academic life is disturbing your mental peace or keeping you from pursuing your tech dreams. You can also develop a mind-blowing application that can change your days and make you a man of fortune only if you worked dedicatedly. Face your failures, keep getting back on your feet and never ever give up on your dreams.

We are living in a world dominated by technology. Students cannot even learn, and educational institutions cannot survive without advanced gadgets and the internet. It has become the need for time, and every student has to keep a separate identity over social media. If a student fails to understand technology, he is left far behind in the race of life. Therefore, all of us need to keep up with the pace of the tech world.

               

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