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BREAKING:

$535B CANADA BUDGET PROJECTS $39.8B DEFICIT, AIMS TO RESTORE ECONOMIC FAIRNESS

It seeks to ease the housing and affordability crisis by making older, wealthier Canadians pay more

Snapchat's daily video views triple to 6 billion - report

Reuters
A portrait of the Snapchat logo in Ventura, California December 21, 2013. REUTERS/Eric Thayer/Files

NEW YORK (Reuters) - The number of videos viewed each day on Snapchat has tripled since May to 6 billion as the messaging app closes the gap with social media giant Facebook Inc (FB.O), according to a report in the Financial Times that cites people close to the company.

The Financial Times said that Snapchat confirmed the 6 billion figure but had declined to comment further.

Facebook said last week that it had doubled daily video views to 8 billion from 4 billion in April, according to the report, which notes that social networking groups are vying for eyeballs in the fast-growing video segment.

Facebook's daily video viewing number is made up of both desktop and mobile views while Snapchat's is entirely made up of smartphone users, the report notes.

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Snapchat CEO Evan Spiegel said in May that the company plans to have an initial public offering but did not specify when that would happen. In 2013, Snapchat turned down a $3 billion offer from Facebook to acquire the company.

(Reporting by Edward Krudy; Editing by Andrea Ricci)