Snapchat is one of the most valuable companies in the world, reportedly valued at $16 billion. Users watch videos on the platform 7 billion times a day, according to Fortune. The five-year-old social media app -- which shares photos, videos and content that disappear after 24 hours -- is one of the most popular among teenagers.

13-year-olds Elsbeth and Brooke are Snapchat obsessed. The eighth graders probably trade at least one hundred photos and videos each day on Snapchat. When they wake up in the morning and glance at their phones, 40 snaps await them. They can respond to all of them in under a minute. Yes - Brooke and Elsbeth can take 40 selfies in about 60 seconds flat. The girls say they can't live without it.

In this episode of Fast Forward, Jo interviews Brooke and Elsbeth about why they love Snapchat, how they use it and why smartphone data plans have become the biggest fight between parents and teens. Elsbeth and Brooke also explain why they avoid Facebook, their wishlist for Snapchat CEO and cofounder Evan Spiegel and how to improve Jo's meager Snapchat score. Jo also interviews their mothers about the social media app's broader impact.

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Join FOX Business Network's Jo Ling Kent with this edition of Fast Forward:

FAST FORWARD is a podcast on tech, innovation and media. Every week, FAST FORWARD, digs into today's stories with the most dynamic leaders and voices. Featuring the inventors, innovators and investors who shape the future while we wait patiently in the present, we leverage our Fox Business intel to explore what happened, why and what's coming next. And robots. Lots of robots.

Follow Jo on Twitter @JoLingKent #FOXFastForward

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