Snapchat stops losing its users: Report
San Francisco, Feb 6 : Photo-messaging app Snapchat's losses seem to have stabilised as the company did not add any user in the last quarter and did not lose any either.
Earlier, Snapchat witnessed a fall in users in the wake of a controversial early 2018 redesign of the app that was intended to revive user growth but initially appeared to do the opposite.
Apart from the stable user base, Snap has also reportedly set a new record for quarterly revenue at $390 million, which brings its yearly total to more than $1.1 billion.
"In 2018, we focused on building a foundation to scale the business over the long-term by driving sustainable product innovation, scaling our advertising platform, and hiring the leadership team that will help us achieve our future goals. We ended the year with user engagement stabilising," Evan Spiegel, Co-founder and CEO, Snap was quoted as saying in the report.
While Snap lost users because of its reviled redesign, the company stressed it ultimately resulted in 30 per cent more people watching Snapchat-exclusive stories and shows, according to The Verge.