Snap, the parent company of Snapchat, announced a major milestone in its recent investor event. The Snapchat app has hit 750 million monthly active users, with 375 million of them opening the app every day. Although this number is small compared to Facebook’s 2.96 billion monthly active users and 2 billion daily active users, Snapchat’s audience has been steadily growing in recent years.

Snap is optimistic about the future of Snapchat, as the company announced during the investor event that it expects to reach 1 billion monthly active users in the next 2-3 years. The majority of Snapchat’s audience is in North America, with 150 million monthly active users. Snap CEO Evan Spiegel also revealed that the app reaches ¾ of 13-34 year olds in 20 countries around the world, and users post 5 billion snaps every day.

Snapchat’s paid service, Snapchat+, has already amassed more than 2.5 million members just seven months since its debut. Additionally, over 300 million people use Snap Map every month.

As Snapchat continues to grow its user base and introduce new features, it will be interesting to see how the app competes with other social media platforms in the years to come.