According to a recent report by comScore, Snapchat is now more popular than Twitter among U.S. millennials.
The report finds that 32.9% of Americans aged 18-34 had installed the Snapchat app on their phones in June 2014, trailing only Facebook (75.6%) and Instagram (43.1%).
While the data says nothing about actual usage of social media apps, it does indicate that Snapchat's reach among young adults is remarkably high, especially when compared to a multi-billion dollar company such as Twitter.
It takes a lot of work to convert short term success into a sustainable business in the social media space, and there are many examples for young tech companies that didn't deliver on the hype surrounding them, but at the moment it seems as if Snapchat's decision to turn down a $3 billion acquisition offer from Facebook last year, may not have been as foolish as many people thought back then.
This chart shows the most popular social media apps among U.S. millennials in June 2014.
You will find more statistics at Statista