Snapchat CEO: 70% of users are women

Snapchat co-founder and CEO Evan Spiegel

Evan Spiegel, co-founder and CEO of Snapchat, said on Wednesday that women make up about 70% of the app's users.

Spiegel made the above statement during a closed-door meeting with Goldman Sachs in Las Vegas, the United States.

Snapchat, which does not disclose its total user base, did not immediately respond to a request for comment.

Spiegel also said Snapchat users send 400 million snaps a day, including photos and videos, double the 200 million in June, according to sources who attended the meeting. By comparison, Facebook users share 350 million photos a day, though that figure doesn't include photos or videos shared on Instagram.

Snapchat currently has no revenue. In response, Spiegel said the company is not in a hurry to earn money from advertisers. Spiegel also said that Snapchat still needs to be improved in order to be attractive to advertisers.

In Spiegel's view, Snapchat's biggest competitors are instant messaging apps such as WeChat and Line. He also said that these two apps are only popular in their local markets and currently have no real global dominant competitors.

It is also reported that Spiegel and Snapchat are preparing to expand their team and expand overseas. They will adopt a low-cost strategy similar to Facebook and Pinterest, relying on users to translate their applications into multiple languages.

Snapchat rose to prominence last week when it was reported that it had rejected a $3 billion acquisition offer from Facebook.