Snapchat valuation reaches $20 billion with new round of funding: Report
Snapchat valuation reaches $20 billion with new round of funding: ReportReuters

Facebook may boast of having 1.6 billion monthly visitors but it may not be the most popular social media among the teens. A study by research firm Piper Jaffray has found out that teens prefer messaging app Snapchat to other social networking sites like Instagram, Twitter and Facebook.

A total of 6,500 teens, consisting of 1,300 from upper-income groups and 5,200 from average-income groups, were surveyed for the Piper Jaffray project called "Taking Stock With Teens." It involved classroom visits and electronics survey.

The study threw up a startling revelation, that Snapchat is becoming popular among teens. It reportedly became the most-preferred social media platform for teens for the first time this spring, with 28 percent claiming it was the most important social networking platform. It was followed by photo sharing app Instagram, at 27 percent.

Interestingly, only 19 percent of the teens said Snapchat was the most important social network last autumn, and 13 percent in spring 2015. On the other hand, 33 of percent teens claimed Instagram was most important last autumn, compared to 32 percent in Spring 2015, according to the report, a copy of which is available with International Business Times, India.

Microblogging site Twitter was in the third position with 18 percent, followed by Facebook at 17 percent, Tumblr at 2 percent, Google+ at 1 percent, and Pinterest at 2 percent.

It may be noted that Instagram was acquired by Facebook in 2012 for $1 billion. Facebook also tried to buy Snapchat, but did not succeed.