Snapchat Camera is helping create an average of over 5 billion Snaps every single day. The Snapchat generation, primarily Gen Z and millennials, are 150 per cent more likely to communicate with pictures than words and 82 per cent of them believe they have a personal responsibility to change the world," Spiegel said on a call with investors late on Thursday.

Spiegel said that the company has evolved Stories over time to embrace new formats like Shows with total time spent watching Shows increasing nearly 70 per cent year-over-year in 2020.

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"Each month, over 250 million Snapchatters open our Map where they can find the people and places that mean the most to them. There are now more than 35 million businesses on the Map for our community to discover, and connecting local businesses," he informed.

Today, more than 200 million people engage with AR on Snapchat every day on average. Looking forward, "we plan to accelerate our full-year revenue growth beyond the 46 per cent year-over-year growth achieved in 2020, and grow our community around the world by improving and localizing the Snapchat product experience".

Snap reported revenue of $2.5 billion for 2020, growing 46 per cent year-over-year. "In Q4 2020, we generated revenue of $911 million, a significant acceleration of 18 percentage points to 62 per cent year-over-year growth," the company said. Snap said that the reach among 13 to 34-year-olds in many of its established markets continues to grow.

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