New Delhi: Snap Inc, the parent company of instant app Snapchat, reached the milestone of 200 million monthly active users in India.
As per a statement by the social media company, over 120 million Indian ‘Snapchatters’ watch content across Stories and Spotlight monthly. It added that the time spent by Indian users on Spotlight, Snapchat’s user-generated entertainment feed, more than tripled.
Earlier, in 2021, the company reported crossing the 60 million users milestone in India. In line with its growth in India,
Snap is currently building its team and enhancing its operations with hires across a variety of roles.
“I am thrilled to have joined Snap at a time when the momentum among our Indian community has never been stronger,” said Ajit Mohan, President, APAC, Snap Inc. “We see incredible potential for partners, creators, and brands to build communities and businesses on Snapchat, and we couldn’t be more excited about our future.”
As per Snapchat, Indian users play with Augmented Reality (AR) Lenses over 50 billion times every month, and over 85% of them use Lenses to visually express themselves during festive months in India.
In FY22, Snapchat generated $4.6 billion in revenue—a 12% increase year-on-year. However, it is yet to record an annual profit, with losses amounting to $1.4 billion in 2022. As per Tofler, while India is a smaller market for the company, both its revenue and profit from India operations have grown—to Rs 65.8 crore and Rs 6.2 crore, respectively, in FY22.
Snapchat says it is helping creators build audiences via Snapchat, while also enabling them to make their content monetisable and accessible.
