CHART OF THE DAY: Snapchat Now Has More Photos Uploaded Daily Than Facebook

In case Facebook's interest in Snapchat is still confusing to you, this ought to clear things up.

According to Cooper Smith at BI Intelligence, Snapchat has 400 million "snaps," which are photos and videos uploaded, on a daily basis. The vast majority of those snaps are photos, says Smith.

Facebook, meanwhile has 350 million photos uploaded on a daily basis. Instagram, which is owned by Facebook, has 55 million uploaded on a daily basis.

Facebook's core function is photo sharing. Snapchat is now a bigger application for sharing photos than Facebook and it's soon going to pass Facebook and Instagram.