Snapchat’s rumored valuation keeps rising. The image-sharing app is expected to be valued at up to $19 billion in a new round of funding, which would bring its value close to Whatsapp (purchased for $22 billion by Facebook.) L2’s Intelligence Report: Social Platforms finds Snapchat to have huge untapped potential. Despite attractive demographics – 100 million monthly active users, 71% under the age of 25 – only 6% of brands are present on the platform. That trails participation on Vine and Tumblr.

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Yet a few brands are ahead of the curve and exploring ways to leverage the 700 million snaps shared daily on Snapchat (12x the quantity of photos shared on Instagram). Nars gave the first sneak preview of the Guy Bourdain collection on Snapchat, and Mountain Dew kickstarted a multimedia campaign for two new flavors on the photo-sharing platform. The graph below shows the most active brands on Snapchat. ASOS leads with more than 20,000 snaps sent and received.

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