Snapchat surpasses 30M paid subscribers

Snapchat has surpassed 30 million paid subscribers, with 5 million added since February, thanks to its paid tiers including Snapchat+, Lens+, and Memories Storage. The paid subscribers have access to exclusive and pre-release features, and the company's shares fell 12% after missing ad revenue and user growth estimates. The company also reported 495 million daily active users for the quarter, up from 493 million in the previous quarter, but short of analysts' expectations of 499 million. The company's focus is on long-term value for its community, prioritizing relationships and safety over short-term daily use metrics.