Login, Set, Upload! Snapchat Leaves Facebook In Dust with Daily Photo, Video Uploads: Report
Snapchat is really sticking it to Facebook these days.
Snapchat users have reportedly passed Facebook users in daily photo and video uploads, according to a new report by CNET News. The photo and video sharing app "now processes 400 millions snaps per day," according to a Shapchat representative. That number easily beats Facebook's 350 million daily photo uploads, according to Business Insider. The Facebook figure, however, does not include Instagram uploads.
Another caveat is that Facebook users' photos and videos are posted once to their friends, while each Snapchat snap is sent to one person at a time. This means the same snap can be sent many times to various users.
Snapchat turned down an offer this week of more than $3 billion in cash from Facebook. The popular messaging app is currently entertaining offers from several investors, according to a USA Today source familiar with the matter.
The 2-year-old Los-Angeles based company has also been approached with an investment from China's TenCent Holdings that would value Snapchat at $4 billion. It has raised about $73 million in funding from investors including Lightspeed Venture Partners, Benchmark Capital, Institutional Venture Partners, SV Angel and General Catalyst Partners.
Last year, Facebook purchased Instagram for $1 billion in a move that has been widely judged as a way for Facebook to tap into the photo app's teen crowd, which are, on the flip side, steadily losing interest in Facebook.
Piper Jaffray's semi-annual "Taking Stock With Teens" report found that Twitter is now the go-to site for the most teens, with 26 percent naming it as their "most important" social site. Facebook claimed 23 percent of the vote, which was down from 33 percent six months ago and 42 percent a year ago.
Twitter's reign at the top might be short-lived, however, as Facebook-owned Instagram got 23 percent of the vote for "most important" site, up from 12 percent last year. Twitter's "stock" with teens has decreased in the past six months, as well. Business Insider's Jim Edwards sees this trend favoring Instagram, and points to a recent Pew report, which suggests the popular photo service will surpass both Facebook and Twitter, as further validation.