Developers are building their own products for Snapchat, like polling app Polly. Photo:

Speaking at Ad Week New York, Snapchat's Chief Strategy Officer, Imran Khan, announced that over a trillion Snaps will be sent this year.

By comparison: Around 500 million Tweets are sent daily, per Twitter. Facebook hasn't revealed Instagram or Facebook usage statistics, other than that users spend 50 minutes on average per day on Facebook and roughly 30 minutes on average per day on Instagram.

On Snap, users under 25 now spend up to 40 minutes per day on the app, and all users average over 30 minutes. Snapchat users are now taking more than 3 billion Snaps a day on average. Per Khan, this means the run rate is now more than a trillion Snaps taken in a year.

Why it matters: Snapchat has been touting engagement metrics for years to show the core loyalty of its core audience of younger users. Axios touched on MarketLand's report last week that shows how that engagement leads to a very "reachable" audience of 18-24 year-olds for advertisers.The company has made big strides in advertising over the past year to engage small and medium businesses and to capitalize on its popular camera innovations, like lenses and filters.

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