Most Millennials Prefer Snapchat Over Other Social Media Including Facebook, Instagram And Twitter

Posted: Mar 17 2017, 4:12am CDT | by , Updated: Jun 18 2018, 10:25am CDT , in Latest Business News

Most Millennials prefer Snapchat over other Social Media Including Facebook, Instagram and Twitter
Snapchat co-founders Bobby Murphy, chief technology officer of Snap Inc., and Evan Spiegel, chief executive officer of Snap Inc., smile at each other after ringing the opening bell at the New York Stock Exchange (NYSE), March 2, 2017 in New York City. Snap Inc. priced its initial public offering at $17 a share on Wednesday and Snap shares will start trading on the New York Stock Exchange (NYSE) on Thursday. (Photo by Drew Angerer/Getty Images)

More than 50 percent of millennials in the US prefer checking Snapchat first over other social media platforms such as Facebook, Instagram, and LinkedIn, the results of a new survey suggest.

The survey involving nearly 10,000 college students found that 58 percent of them check Snapchat over Facebook, Instagram, and LinkedIn combined.

Instagram accounted for 27 percent, Facebook for 13 percent, and LinkedIn for 2 percent, or a total of 42 percent, showed the new data gathered by LendEDU, an online marketplace for student loans and student loan refinancing.

The findings suggest that Snap Inc., parent company of messaging app Snapchat, may not only survive the volatile Wall Street environment, but prosper.

Snap Inc has been the word on Wall Street since it went public on March 2.

Snap rode its immense popularity to produce eye-popping numbers during its initial offering, with a first day closing price at $24.53.

In the days following the IPO, shares of Snap traded lower as exuberance and volume settled.

But the messaging app's popularity among millennials (born between 1980 and and early 2000s) can help the company prosper in the stock market, according to the new results.

"Overall, Snap's access and importance to millennials will be the driving force behind their success in the stock market," LendEDU said in a report on Thursday.

For the study, LendEDU has gathered this data under license from polling company WhatsGoodly.

According to Snap, the majority of Snapchat users are aged 18-to-34 years old. On an average, these users visit the app 18 times a day for a combined 25 to 30 minutes.

Additionally, users younger than 25 visit the application more than 20 times a day for more than 30 minutes.

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