Snapchat now has more active daily users than Twitter

The photo and video messaging app has overtaken Twitter and its 140 million active daily users.

Snapchat has added 40 million accounts in the last six months.

It's claimed that the service had 110 million daily users in December, which launched in 2011 - five years after Twitter.

However, Twitter is still ahead on active monthly users - it has 310 million compared to Snapchat's 200 million.

Twitter's stock falls below IPO price amid ongoing decline

Shares of the San Francisco-based short messaging service fell 5.8 percent to close at $26, after trading as low as $25.92 during the day. Twitter went public in November 2013 at an initial public offering price of $26 per share.

The stock is down more than 30 percent since Twitter's July 28 earnings report, when it warned that boosting its user growth rate will take a long time.