Snapchat’s parent company Snap is finally ready to go public. Though there are many interesting details to glean from the move, the big question on investors’ minds is: Are we looking at the next Facebook, or the next Twitter?
Well, judging solely by the numbers, it’s closer to the latter. As this chart from Statista shows, while Facebook was already something of a giant before its IPO, Twitter’s revenue and user base was more modest, and it wasn’t profitable. (It still isn’t.) Snapchat does seem to have to edge over Twitter in daily users — Twitter only counts those on a monthly basis — but it’s blowing through even more cash, and its revenue is lower at that.
Now, these aren’t 1:1 comparisons. Facebook’s IPO came eight years after its founding; Snap only waited five years. These social networks also have completely different audiences and focuses. The real question is if Snap can keep growing from here. As a self-proclaimed “camera company,” there are plenty of ways it can expand.