Snapchat Reaches 8 Billion Daily Video Views

If your business doesn't have a video presence on Snapchat, now might be a good time to get into the game.

Snapchat has hit 8 billion video views per day, said CEO Evan Spiegel, putting the ephemeral messaging sharing app on par with competitor Facebook, which hit that 8-billion figure back in November.

In a keynote speech at the Morgan Stanley Technology, Media and Telecom Conference in San Francisco this week, Spiegel said that the Snapchat has over 100 million daily visitors who log an average of 30 minutes on the app per day. Spiegel also said that 41 percent of the 18- to 34-year-olds in the United States are on the app every day, with more than half of new users joining the app over 25.

Related: Scammer Gains Access to Snapchat Payroll Data After Posing as CEO

As of last month, the company was valued at $16 billion. February also saw Snapchat make several moves with an emphasis on advertising. The company made a deal with Viacom that allows the media company to sell ads on Snapchat's behalf and it started using Nielsen Digital Ad Ratings to measure how many users the service is reaching through its mobile advertisements.