 "Milennials prefer Snapchat over Facebook, Instagram, Linkedin")
More than 50 per cent 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 per cent of them check Snapchat over Facebook, Instagram, and LinkedIn combined.
Instagram accounted for 27 per cent, Facebook for 13 per cent, and LinkedIn for two per cent, or a total of 42 per cent, showed the new data gathered by LendEDU, an online marketplace for student loans and student loan refinancing.
The findings suggest that Snap., parent company of messaging app Snapchat, may not only survive the volatile Wall Street environment, but prosper.
Snap 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.
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In the days following the IPO, shares of Snap traded lower as exuberance and volume settled.
But the messaging app's popularity among millenials (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.