A new report from The Daily Beast exposes tightly held data from Snapchat that may give investors and prominent publishers on the platform pause.
Parent company Snap Inc. has been quick to tout its 178 million daily active users, but little else. According to data collected by The Daily Beast from April to September 2017, there may be a reason why CEO Evan Spiegel has been so mum:
- Snap Maps, a location-based feature launched in June 2017, only had 19 million users checking it daily in September–just 11% of Snapchat’s total daily users.
- Only 20% of Snapchat’s users consumed content from Discover and its daily “Editions,” those magazine-like stories from publishers like The New York Times, Vogue, and BuzzFeed that have been a revenue stream for the company.
The Daily Beast‘s report also paints the internal mood of the company as anything but transparent, with former and current employees describing off-limit areas in the New York office and siloed teams within the company. Read the full story here.