They're making money until they aren't. OnlyFans is sweeping a large amount of adult models off of Snapchat. Everyone is doing disappearing content, stories, and photo filters. The only thing they have left are the contracts they signed with companies and creators when they were in their heyday.

They make money from advertising to end users. They have consecutive quarterly growth and are at an all time high for DAU:

https://www.statista.com/statistics/545967/snapchat-app-dau/

I haven't seen or heard about anyone using snapchat in the last year. It used to be the location for all my family's chat. They definitely aren't experiencing explosive growth anymore.

The growth is focused internationally now.

It’s very popular amongst younger people.

As someone in their mid-twenties, I can confirm. Since a lot of users don't have iPhone's/iMessage, and/or just don't use Facebook/Messenger that much, it's become a go-to messaging platform for those that don't seek out the more dedicated ones like Whatsapp, at least in my non-technical circles. I'm in several group chats that all organically cultivated on Snapchat in the past couple years.

Besides that, they've built out their first-party content platform pretty well, which I assume is what's driving their advertising growth, and (anecdotally) is shared in-app relatively frequently, although I've recognized some reposting/reformatting of said video content from Youtube or other sources, e.g. WatchMojo.

> Snapchat is doing great and making money.

Snap is losing a lot of money.

Their operating loss was an astounding $596 million for the first two quarters of 2020. Barely an improvement over last year's $620m operating loss for the same period.

Somehow they managed to generate a $596m operating loss on $916m in sales. Truly remarkable performance. It's not easy to so poorly run a business that should be printing profits. Facebook generated nearly a billion dollars in operating profit at that sales scale. The least Snap could do is break even.

Undervalued at $33B in my opinion.

I have never seen a person using snapchat. Maybe I am too old

anecdata isn't data

Thanks for this great play on words :)

Let alone anyone talking about it anymore.