Here’s what the CEO of Snapchat had to say about the metaverse

Spiegel told the Guardian that the word metaverse is never spoken with in offices, and he said: “The reason we don’t use this word is because it’s vague and virtual, just ask yourself how you define it, and so is everyone else in different shapes.”

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The company reported that Snapchat reaches more than 600 million monthly and more than 332 million daily active users around the world, and the Kingdom: “It also works with more than half a million partners, creators and developers to provide its community with innovative products and services.”

And the social media platform Snapchat is growing faster than Facebook and Twitter and in its most recent quarterly report, the platform said last week, it increased its number of daily active users (DAUs) by 18 percent to 332 million (y/y).

And while Facebook (meta) reported its first loss in DAUs last quarter, income from it on Twitter grew only 2 percent in the US and 15 percent globally.

Revenue grew 38 percent year-over-year to $1.06 billion for the quarter ended March 31, 2022, and Spiegel said, “Our results for the first quarter reflect the underlying momentum in our business during a challenging environment.”