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Snapchat has come under scrutiny since it was first introduced. Critics called the disappearing-photos app scandalous, then swaths of tech writers emerged to say they were too old to use it — they didn’t understand Snapchat.
Who did understand? Young people. Snapchat’s largest consumer base is between 13 and 25, and is primarily female. Millennials use Snapchat in many of the same ways they use other messaging services: texts, Whatsapp, etc. And Snapchat has proven itself to be adaptable. It introduced the Discover feature, which allows brands to create updates accessible to the entire user base of the app. It added Snapcash, a service that lets users send each other money.
Still, skeptics wonder if Snapchat’s high valuations and aggressive investment plans are misplaced — a bubble bound to burst, a party doomed to end — worrying that increased accessibility and a better user interface could potentially alienate Snapchat’s core users, who might move on to the next big thing.
To learn more about how Millennials use Snapchat and why it might be more valuable than it seems, Marketplace Weekend spoke to Marketplace Tech producer Meg Cramer, who says she uses Snapchat more than she texts. So what’s the appeal of Snapchat? Cramer says that if Facebook is like your high school reunion, Snapchat is a VIP room.
Tune in to the whole interview in the player above.
To check out the behind the scenes creation of the expert snap in the segment photo, listen below:
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