Snapchat Files for IPO —

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Social media platform Snapchat has filed for an IPO:

Snap claims 158 million daily users and said over 2.5 billion Snaps are created every day. However, the young company warned that its popularity could plateau, hurting its business. It noted that user growth was “relatively flat” in the end of the third quarter. Snap blamed the decline in user growth on performance issues linked to new products and updates.

Supplier Takeaway

If you are relying solely on “older” social media networks, such as Twitter or Facebook, you may be missing out. Newer services, such as Instagram and Snapchat, are huge and very popular with Millennials and even younger consumers.

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