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By 2016, Snapchat celebrated reaching 100 million users, and by 2019, that number had climbed to 200 million. Their revenue also followed this growth trajectory, reaching $5.3 billion in 2024.
The Peculiar Financial Profile
Despite these achievements, Snapchat's financial landscape paints a dramatically different picture. After a random spike during the pandemic, Snapchat’s stock has largely hovered without significant upward movement since it went public. Even after posting its first profits in Q4 2021, Snapchat struggled to maintain that momentum.