How College Students Use Snapchat

Loup Ventures, the venture capital firm co-founded by former Wall Street analyst Gene Munster, Doug Clinton and Andrew Murphy, hasn't shied away from commenting on Snap, Inc. SNAP.

Murphy stated in a blog post his firm is a big fan of the direction Snap is heading in as it has demonstrated a bold long-term vision that includes augmented reality (AR) capabilities and hardware products.

In fact, the firm believes Snap should be considered an "augmented reality powerhouse" since it excels in combining its market-leading technology with dedicated cameras to deliver a user experience that is unmatched in the social media space.

Related Link: Everything You Need To Know About Snap's IPO

While this is certainly valuable insight into Snap's business, the better question many investors are asking is who is actually using the platform and why. So this is what Murphy did as he interviewed a small sample of 32 college students to see if they use the platform.

"Now that Snap is publicly traded, there will be even more scrutiny on how its users are engaging with the platform, including user growth, time spent, and ad revenue," Murphy wrote.

Here are some of the findings of the informal survey:

• Sixty-six percent of students snap more today than they did half a year ago.
• Twenty-eight percent use the platform less frequently today than six months ago.
• The remaining 6 percent haven't changed their habits.
• The average user sends close to 38 snaps a day.
• Sixty-nine percent of users send at least five snaps a day.
• Eighty percent of all the snaps were sent out by just 30 percent of the users.
• Forty-one percent of users can recall a specific ad that was seen on the platform.
• Around 66 percent of users who couldn't recall a specific ad did note seeing ads more generally.