Sources tell the Wall Street Journal that Evan Spiegel, the co-founder and CEO of social media startup SnapChat, told participants at an investment conference on Wednesday that women made up the overwhelming majority of the service’s users.
Messages posted via SnapChat are only visible for seconds. Speaking at Las Vegas event run by Goldman Sachs (GS), Spiegel indicated that users post 400 million messages — dubbed snaps — via the service every day. He said that 70% of the service’s users are women.
SnapChat received significant media attention when it reportedly rebuffed a $3 billion acquisition bid from social media giant Facebook (FB).
The company has not said exactly how many users it has. SnapChat does not feature advertising and so far hasn’t generated any revenue. Spiegel reportedly said that SnapChat is willing to delay monetizing its service until the product its “appealing for advertisers.”