As Snap (SNAP) goes public at $24 with a valuation of around $35 billion, the valuation comparison to Twitter (TWTR) is almost unavoidable. The latter social media stock trades at only $11 billion and around the all-time lows. Buying Twitter because the company offers a similar user base and roughly 1/3 the valuation isn't rigorous. One likely outcome is that Snap declines to match Twitter. A Salesforce (CRM) could come around and make an offer for $20+ due to this valuation discrepancy, but this isn't a reason to own the stock. The better reason to own Twitter is for the turnaround in progress. The double-digit growth in engagement and the potential to start charging fees. While Snap analysts are forecasting the ability to reach $2 billion in revenues in 2018, Twitter is already at $2.5 billion and plenty of signs suggest the platform could easily collect billions in annual fees from power users for premium functions. More research: Should Twitter Embrace Fees?Buy Twitter for these reasons. Disclosure: Long TWTR