According to a report by Bloomberg, Snapchat has surpassed Twitter in daily users by 10 million. Twitter is said to have 140 million daily users while Snapchat now has 150 million.
According to sources not revealed by Bloomberg, Snapchat had 110 million daily users in December. This conceivably would mean that Snapchat is on track to reach 200 million users by the end of 2016. Twitter once was the second largest social media app behind Facebook, but now it ranks below several other apps including Instagram, Facebook Messenger and WhatsApp.
According to statista, Twitter is the 9th most popular social network as of April 2016 by number of active users in a month. Snapchat according to their count is ranked 15th. Snapchat users are logging in far more frequently than Twitter users which is why they rank higher in Bloomberg's daily user report.
Twitter has 320 monthly active users while Snapchat has 200 million according to statista. The leading social network, Facebook, has nearly 1.6 billion MAU followed by Whatsapp with 1 billion and Facebook Messenger with 900 million.
For those not familiar with Snapchat (It targets millennials and younger!) it is a mobile app where friends can follow friends if both accept. Friends can post snippets of text, pics and videos and creatively edit those within the app and then post them to "My Story" where all their friends can view them, or alternatively direct them just at certain friends messaging style.
More and more Snapchat is being used in place of texting and in place of Facebook messaging by teens and those 20-35 years old. The difference is that SnapChat posts typically can only be viewed once and then they disappear. If someone saves or screenshots their phone the friend who posted it is made aware of who did this within the app, thus discouraging bad behavior or reposting.
Snapchat also competes with Twitter and Facebook because users can post to all of their friends at once. These posts also go away but can be re-viewed and typically last a few days before disappearing. There is no timeline or archive of your posts or your friends posts, making Snapchat very unique with social media apps.