If you’ve started using Snapchat regularly this year, you’re not alone. At yesterday’s Q2 earnings call, Evan Spiegel, CEO of Snap, announced that the platform is growing at the highest rate achieved in the last four years in both revenue and daily active users. Snapchat now has 293 million daily active users, an increase of 23% from last year.

Instantly went public with a valuation of 24 billion in 2017, but shortly before that, the short-lived photo sharing app experienced a major setback: Instagram cloned their next unique stories feature. After Instagram Stories started, Snapchat’s growth slowed to 82%. Then, when Snapchat redesigned its app’s interface, Kylie Jenner tweeted that she would no longer use the app, causing the company’s valuation to drop by 1. 1.2 billion.

But Snapchat grabbed and returned. Its revenue peaked at 2020 911 million in 2020’s Q4, reaching $ 770 million in the following quarter. Now, Snapchat’s revenue in Q2 2021 has surpassed its previous high of 2 2,982 million.

The Q2 growth of the app could be attributed to the return of advertisers who incurred their costs during the height of the epidemic, as well as the retention of users while in lockdown. Like many social media platforms, Snapchat increased its revenue and user base during the epidemic, but this isn’t just about re-engaging users with the app that developed. As the ticket ok e exploded on the scene and the creator economy boomed, creating a Snapchat spotlight, cloning a ticket ok k, and investing in the application of augmented reality.

“We’ve made significant progress this quarter with our aging reality platform,” Spiegel said. “On an average, more than 200 million Snapchaters engage with AR every day, and more than 200,000 creators use Lens Studio to create AR lenses for our community.”

Last month, Snapchat went viral for its cartoon 3D style lens, which makes you look like a character in a Pixar movie. Spiegel described the lens as a special feature that “highlighted the power of the lens to go viral, both inside and outside of Snapchat.” But in addition to entertaining face filters, Snapchat AR is using e-commerce to woo mer mer partners. The app has developed AR experiences for Walt Disney World, Smile Direct Club, Zenny Optical, Vampire Cosmetics, Ralph Lure Rain and more. These include try-on capabilities for watches, jewelry, eyewear, handbags, makeup and even clothing. At its Partner Summit in May, Snapchat announced an update that allows users to scan friends’ outfits to find purchase recommendations for similar styles.

“We have a long way to go to build our technology and increase AR adoption, but we are thrilled with the results our partners are seeing as we invest in our long-term camera opportunity,” said Jeremy Gorman, Snap’s chief business officer. ” . “We believe in our long-term opportunity, and are excited to double down on buying and commerce by augmented reality.”

In March, Snape acquired Berlin-based startup Fit Analytics, which helps shoppers find the right size clothing and footwear when shopping online. Combined with Snap’s investment in AR, what size clothing order can we finally look for using AR? The application of such technology will need to be handled sensitively, especially in adolescents with an increasing rate of eating disorders.

Beyond e-commerce mercer, Snapchat has sought strategic partnerships with entertainment companies such as HBO Max and Universal Music Group, and its spectacles have doubled down on the glasses that make up the AR experience. Of course, Facebook is also working on AR glasses. But for both companies, Snap’s recent successes reflect the growing adoption and value of AR’s experiences.