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Snapchat may have an extremely broad and loyal user base, but the social media company needs to appeal to an older audience to survive, Loup Ventures co-founder Gene Munster said.
The company has a lot going for it, namely about 178 million dedicated users, mostly under 25-years-old. According to Munster, about 3.5 billion snaps are sent per day and the average Snapchat user checks the app about 25 times per day.
"That's some really impressive engagement for a demo that doesn't really matter that much," Munster said on CNBC's "Fast Money."
The 25 and younger demographic isn't the easiest to monetize. Despite all that engagement, the social media company still missed its revenue per user target by about 10 percent.
Munster anticiptes Snap's three disappointing quarters will encourage investors to hibernate -- meaning they may not sell, but they definitely won't buy.
"They got a tough road ahead," Munster said. But still he has hope for the company and CEO Evan Spiegel if they can ramp up investment and tailor the product to an older demographic.
"They need to make a product that appeals to an older audience. That's really tough -- they own the college and high school demo - to try to break from that," Munster said.