Snapchat has overtaken rivals Facebook and Apple in terms of augmented reality (AR) engagement as more than one third of daily users engage with Snapchat's augmented reality feature according to US information website, Axios.
Snapchat's location sharing app Snap Map has further bolstered the growth in Snap stories submission by 40%. The report further stated that Snapchat estimates over a trillion Snaps to be sent this year that is around 3 billion per day, with daily active users opening the app 20 times per day.
Snapchat further claims to overtake rival Instagram's stories through the development of its camera creativity.
Snapchat CEO Evan Spiegel at the Vanity Fair Establishment Summit said: "We fundamentally believe that by empowering self expression for everyone, we will grow our business."
"One of the challenges we see on other services is you start with this layer of judgment rather than your own experience. I think that can be really limiting because it's almost paralyzing to think that anything you create is going to be judged by millions and millions of people."