Snapchat
The founders first spread the word about Snap-chat to college friends at Stanford University, but the app’s popularity didn't really start to take-off until it made its way into the high school ranks to become a popular means of communication for teenagers.
It gave young teens an opportunity to exchange messages quickly and left no evidence for the rest of the world, including the eyes of parental figures. The story goes that Spiegel’s mother told their cousin about the app who in turn showed his friends at a local high school in Southern California - from there the app began spreading like wildfire.
With Snapchat’s traction in early 2012, they attracted the attention of mainstream press including New York Times. TechCrunch and other press started to cover them too. While mainstream press framed the phenomenon around sexting, 80% of Snaps are sent during the day—the school day specifically—suggesting that it was less about sex and more about the freedom of expression without public ramifications that drove growth.
By the time the New York Times wrote about Snapchat, it was in the top 5 photo sharing apps, and it hasn't looked back. Snapchat has not only been one of the top downloads for photo and video app but has consistently been one of the top overall apps downloaded in the App Store.
The founders of Snapchat Evan Spiegel & Bobby Murphy
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what was innovative about this app and why did people start using it?
It seems odd that at the beginning of the Internet everyone decided everything should stick around forever. I think our application makes communication a lot more human and natural.” - Spiegel
Think of the world that Snapchat entered, and it’s not hard to see why it exists. In a world where parties require people to leave their phones at the door, where rooms without lights are set up so no photography can be taken, where revenge sites are littered with photographic evidence of the indiscretions of an ex, Snapchat appears to provide a way out.
Snapchat allows users to send photos and videos to one or many friends, while limiting how long the recipients can see them. The maximum time is 10 seconds, just enough for the recipients to enjoy the moment before it is lost forever. To view the content, the recipient holds down a button. They can view the image until the counter expires or they let go of the button. After that, it’s gone.
To help foster the sense of privacy and security, Snapchat includes a built-in alert which notifies the sender if any of the recipients took a screenshot of the photo. Combined with the self-destructing nature, the app actively discourages the saving of photos. This creates less inhibition for users and an overall more fun, care-free experience.
In addition to photos and videos, Snapchat lets users express their creativity by adding text and drawing on the photos. This allows the user to create all types of goofy images and fun things that add to the experience.
What is the monetary value of Snapchat?
Spiegel started Snapchat in a Stanford University fraternity house in 2011 and turned down a $3 billion acquisition offer from Facebook Inc. in 2013. He raised funds from 23 investors at a $10 billion valuation last year.
Who owns it now?
Last year Snapchat infamously turned down a £1.8 billion ($3 billion) offer from Facebook - a decision that left many stunned. But the move seems to have paid off, as Snapchat's owners Evan Spiegel and Bobby Murphy are set to become billionaires according to the current valuations of the company.
