Snapchat is growing faster than in years

Just a few years ago, there were concerns that Snap, Snapchat’s parent company, would not survive as a standalone company. The stock price bottomed out around $5 after a disastrous redesign that hurt user growth and confused advertisers.

The situation is very different now. The camera-based messaging app is growing faster than it has been since 2017, the year it went public. On Thursday, the company said it added 55 million daily users in the second quarter, up 23 percent from the same period a year ago. That means 293 million people worldwide use Snapchat every day, up from 173 million this time four years ago. Snap’s revenue also rose 116 percent to $982 million during the period, making it a faster-growing company than Facebook or Twitter.

To develop…