At $700M ARR, $2B does sound achievable, growing overall company revenue by >20% and representing 30% of total revenue. It's not an easy or quick goal, but recent investment in Snapchat+ has consistently paid dividends for Snap, so heavier investment seems a good bet.

"With more than 15 million subscribers and more than $700 million in ARR (...) we can make direct revenue a durable multi-billion dollar growth driver for Snap" -- Evan Spiegel

Extracting value from Snapchat+ will be a good opportunity for Snap's $15B market cap. In March of last year, Duolingo had a subscription business with similar revenue to SC+ today. Duolingo was worth $10B at the time.

On its 3rd birthday, Snapchat+ now accounts for over 1/8 (12.7%) of Snapchat's revenue. With $700M in ARR, it seems a matter of time before it becomes Snap's second billion dollar business.

Growing a subscription business is a constant trade-off between revenue and subscriber acquisition. Doing both in the same quarter is a balancing act which shows the team continues to execute well.

"Snapchat+ approached 16 million subscribers in Q2 and was the primary driver of Other Revenue growing 64% year-over-year to reach an annualized run rate of nearly $700 million ($171 million in Q2)" A revenue growth of 12.5% from the previous quarter, while also adding 1M subs!

Everyone talks up the metric system (and it's great), but A4 paper is so nice. I don't know what the US is doing with this "Letter sized paper"

I've read good parenting books, relationship books, and management books. They are the same book.

More importantly, $152M is over 11% of Snap's total revenue. Proof that a subscription business can not only co-exist with an ad business but also significantly contribute to it. It would be almost irresponsible for a company that is ad-based to not also introduce a paid tier.

That's up and $9M and 1 million subscribers since Q4. Q4 being the strongest quarter for both gifting and paid subscription growth, it's impressive to not only maintain the numbers but grow from there. Snapchat+ is now over a $600M business, still shy of its 3rd anniversary!

From Snap's earnings call: "Other Revenue, which is driven primarily by Snapchat+ subscription revenue, increased 75% year-over-year to reach $152 million in Q1 or just over a $600M annualized run rate, with Snapchat+ subscribers reaching nearly 15 million in Q1"

"Snapchat+ grew from 7 million to 14 million subscribers in 2024, and Other Revenue, the majority of which is Snapchat+ subscription revenue, grew 131% year-over-year, exiting the year with an annualized revenue run rate of well over $500 million. " Half a billion business, yay

From Snap's earnings call, Snapchat+ has now amassed 12M subscribers, pretty much doubling year-over-year. Non-ads revenue has reached $123M for the quarter, a half-billion annual run rate, and 9% of total revenue for the company. Snapchat+ launched in July of 2022.

I'm now using 94% of my Google storage, and I add about 1% every 3 months or so. Now Google keeps pestering me, all over the place, to upgrade my storage, where in reality I still have about a year and a half before I run out of space. So annoying...

At the 2 year anniversary, Snapchat+ now has over 11M subscribers, and is generating over $100M in quarterly revenue. What a fun project to be a part of and watch grow! (from Snap's earnings)

Microsoft isn't getting nearly enough blame for this. There are many ways you can prevent, mitigate, or make it easier to repair a bad update to a tool that has Kernel access.

It's crazy that you post something for sale for $10 and a bunch of people jump to buy it. You post the same thing for free and no one is interested.

Hmmmmmm.....

Just saw a documentary that said "migration is the most fundamental survival strategy.". Should I migrate to iOS or cross-platform development?

Ok Dall-E, generate a photo of my daughter, with her 2 sisters and dog in the background, for her movie night birthday party. Thanks!