With its name change followed by brand new spectacles, Snapchat has dominated the headlines in the past few days.
Now, Snapchat says it has hit the 60 million user mark across Canada and the United States. Forbes reports that this amounts to a third of Facebook’s 175 million North American subscribers.
Imran Khan, the chief strategy officer of Snap, as the company is now called, announced at Advertising Week in New York that Snapchat had amassed upwards of 60 million users in its North American market.
Furthermore, the CSO confirmed that the company’s average revenue per user in North America is approximately $12.43 USD, which is nearly four times its global average of $3.32.
This past week, Snapchat has introduced some significant changes. First and foremost, shifting its name from Snapchat to Snap, suggesting that the company has ambitions to move beyond its main product and into other areas. Its vide0-integrated camera glasses, called Spectacles, are Snap’s first example of those ambitions, which users can purchase for $129.99.
Around the world, Snapchat has over 150 million active users and closed a $1.8 billion funding round in May. The company’s revenue has benefitted greatly from the launch of its ad business in early 2015. An e-marketer report suggest that Snap Inc. will earn up to $1 billion in ad revenue by 2017 compared to Facebook’s projected $2.8 billion.