Snap reaches 500 million monthly users – CNBC1 min read

CNBCSnap said Thursday that its social media app Snapchat has actually reached 500 million month-to-month active users.Shares of Snap were up more than 5% on Thursday after the business announced the feat.This is a substantial milestone for Snap, a business that refused multi-billion dollar acquisition offers by Facebook prior to it went public in 2017 and survived an unfortunate redesign in 2018 that its users hated.Snap had actually never launched monthly-active-user figures prior to Thursday. Thats up 22% compared to a year prior.To be sure, the businesss 500 million monthly users are just a fraction of the 2.85 billion who open Facebook each month.The milestone was revealed Thursday at the businesss 2021 Snap Partner Summit, where it likewise shared a number of brand-new augmented-reality functions that might help the company monetize that 500 million month-to-month user base.Theres a scene in 1995s “Clueless” where Cher Horowitz uses a computer to quickly glimpse and superimpose the brochure of clothing in her closet on her body to choose the best outfit.At the time, it was a fantastical technology, reserved for an abundant girl, but now, Snap is releasing something comparable for the masses.The features revealed on Thursday will enable users to browse business catalogs of clothing and accessories using the Snapchat app. These features will make it possible for users to essentially attempt on items, envisioning how they will look on them in real life.With these functions, users can stand up their phone or set it on a stand and face it towards them.

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