These are the three things one Silicon Valley VC wants to hear on Snaps first earnings call tomorrow

Goodwater Capital, a two-year-old, San Mateo, Calif.-based early-stage undertaking house, has been trying to stake out new field for itselfby writing a continuous series of research and implements that help inform both participating houses and startup founders. One of those pieces of research was a detailed snapshot of the tech fellowship Snap, which Goodwaterpublished in early February, shortly before the company went public.( We wrote about it here .)

Three months later, forearmed withfresh survey data of 3,000 Americans across the country who Goodwater recently polled utilizing a third-party service, firmco-founder Eric Kim who isnt a stockholder says hell be listening for three acts on Snaps very first earnings call tomorrow 😛 TAGEND

1) Snapchats competitive response to Facebooks continuous series of onrushes on its core stage .

Snapchats storiesplatform has maintained market share over the last six months, but during that reporting period, Facebook has converted a whole lot of non users into users of its own[ fibs] stage , mentions Kim. While Snapchat had and still has 12 percent market share of the legend user locate, Facebook has now grabbed 14 percent the shares, withInstagram Floors now claiming 200 million daily active usersversus Snapchats 158 millionusers.

It interests howSnap plansto respond, of course, because Facebooks success andSnapchats futureare more directly correlated than Snap might like. Which parent the second issue that Kim will be focused on, and that is 😛 TAGEND

2) Snaps daily active customer expectation .

The expectation for the purposes of our fourth is that Snap will include anywhere from seven to nine million users from the previous fourth, reads Kim. What Goodwater seesin its survey data might anxiety stockholders, however.

Fifty-nine percent of respondents under senility 30 said they use Snapchat, and 81 percent said they use Facebook, so the[ two programmes] arent mutually exclusive, he memorandum. Thats the good news. Now gives their own problems: For survey respondents underage 30, 46 percent said they expected to increase their utilization of Snapchat going forward; of those over senility 30, merely 10 percent said they expect to increase their utilization of Snap.

When it comes to users ages 30 and up, the numbers forFacebook are farmore encouraging , mentions Kim. To humor, 65 percent of people under senility 30 who were surveyed said they plan to increase their usage of Snapchat going forward. But almost an indistinguishable percentage 64 percent said they expect to increase their usage of Facebook.

Wait, you are able to amaze: How cananyone draw conclusions based onasurvey of 3,000 people when thebroader person of the U.S. is roughly 300 million? We queried Kim that extremely question. Memo thatGoodwater utilizes various data specialists, he insiststhat it is directionally correct.

Which leads us to the third thing to which Kim will be paying close attention tomorrow, and that is 😛 TAGEND

3) Whats happening on the monetization front .

You knew that one was coming. What we think is key, and well be looking for, is what Snapchat is working on that caters to advertisers, reads Kim.

For the most part, he find, Snaps ad dollars are changing primarily through advertisers experimental funds. Thats okay, of course, but its not going to reassure stockholders. What might comfort them is knowing whats in the pipeline, along with learningwhether some ofSnaps newer produces including a new self-serve ad administratorand an API engineering that it launched last fall are enjoying some friction. Thats a very important part of the legend, Kim says.

Kim adds that one last thing blaze be curious to see is who does the talking tomorrow. If its[ Snap CFO Drew Vollero] doing a lot of hand-waving about financial and user increment, the market will be sorely disappointed, reads Kim.

If[ CEO] Evan[ Spiegel] is on the order, he reads, and hes speak about produce policy and Snaps anti-Facebook strategy, thatis( yes) another story.

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