Snap's Daily Users Up 17%

As reported earlier in Digital News Daily, it has just come to light that Comcast sold its $500-million stake in Snap Inc. last year.

Leading up to the investment in 2017, Snap and NBCUniversal were already close partners on a number of marketing deals. For example, the popular social platform was already producing short-form digital series tied to NBCU’s top franchises from “Saturday Night Live” to “The Voice.”

Buying into Snap followed a series of digital media investments. Leading up the buy, the Comcast unit had already invested $400 million in BuzzFeed, $200 million in Vox, and acquired Sports Engine.

From roughly 2015 through 2017, NBCUniversal’s digital investments totaled approximately $1.5 billion, according to estimates offered by Steve Burke, CEO of NBCUniversal.

Fortunately for Snap, the company no longer appears to need the financial backing of big media partners. Snap Inc is near the top in its sector according to InvestorsObserver. It gets an overall rating of 54. That means it scores higher than 54% of stocks.

Despite missing analysts’ expectation, the company reported fourth-quarter revenue of $561 million, which was up by 44%, year-over-year. The “camera company” also posted better-than-expected global daily active user numbers of 218 million, which were up 17%, year-over-year.

Neither NBC Universal nor Snap returned inquiries for additional comment by press time.

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