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Snapchat maker Snap Inc. held the biggest initial public offering ever for a Los Angeles company this week pricing its shares at $17 apiece. The company made its debut on the New York Stock Exchange on Thursday, where it quickly leaped to close at $24.48.

From the filing

What's a daily user? Facebook and Snapchat have different definitions

Just as Snap and Facebook disagree on what counts as a video view, the two social media agents disagree on how to calculate usage.

Snap says it counts daily users of Snapchat by taking an average of daily usage over an entire three-month period. Facebook considers only the final month of the quarter when taking the average.

Using Facebook’s counting method, Snap sees a slight bump in the number of daily users than by its own math — for example, from 158 million to 161 million in the last quarter of 2016. But the company said in a regulatory filing that it believes looking across an entire quarter "provides a more meaningful metric."

Snap also isn’t giving out data about people who use the app at least once a month, even though analysts who follow Facebook like to compare daily and monthly usage to see whether people are becoming more immersed in the service.

For the record, Snap considers a fraction of a second of a video playing as a view. Facebook defines as a view as three seconds of playback.

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