GoldenGolden
Snapchat

Snapchat

Snapchat, a product of Snap Inc., is a free image messaging application and augmented reality platform.

Overview
Official Snapchat logo

Snapchat, a product of Snap Inc., is a free image messaging application headquartered in Venice, California. Photos sent through the app are only available for a certain amount of time (decided by the sender) before they disappear. There is also an instant messaging interface, which allows users to send messages, photos, and money. Users can decorate their photos with filters, stickers, and augmented reality objects. Snapchat's Stories platform enables users to share a photo with all of their contacts for 24 hours, before it disappears. And Snapchat's Discover feature showcases short-form vertical videos from brands such as The Daily Mail, Mashable, and Cosmopolitan.

Snapchat has approximately 265 million daily active users, as of December 2020. Snap generates nearly all of its revenue from advertising, with 88% coming from the US. According to the company's year-end report, over 90% of the US Gen Z population has watched Shows and publisher content on the platform in the fourth quarter of 2020.

History

Snapchat was launched as Picaboo, an app exclusively for iOS, in July 2011 by Evan Spiegel, Reggie Brown, and Bobby Murphy while they were students at Stanford University. It was rebranded as Snapchat in November of that year. In 2012, video snaps were introduced to the platform, and a version of the app was released for Android.

During 2014, Snapchat refused offers of acquisition, including offers from Facebook. In the same year, Snapchat introduced video chat and acquired AddLive and Vergence Labs. In the case of Vergence Labs, the acquisition was for $15 million in cash and stocks. Vergence Labs were developers of Epiphany Eyewear and a mobile application, Scan. Snapchat also reached an agreement with the FTC following misinterpretations on storage of user data and the accessibility of their "expired" messages.

In September 2016, Snapchat Inc. was restructured as Snap Inc., with the Snapchat app as a product. In 2017, Snap announced its IPO under the trading symbol SNAP and raised $30 billion on the first day of trading. In the same year, the company launched Spectacles, sunglasses with built-in cameras that could record a 10-second video.

Analytics and marketing data app Annie announced in December 2019 that Snapchat was the fifth most downloaded mobile app of the 2010s, based on iOS and Android download figures.

Snapchat announced in November 2020 that it would pay $1,000,000 per day to viral video creators until the end of the year, under a new promotion called Snapchat Spotlight.

On November 23, 2020, Snapchat announced the introduction of Spotlight, a feature that allows users to post public short videos—the company's alternative to TikTok and Instagram Reels. The service did not include advertisements at launch but is expected to introduce them in the future. Spotlight will not include public comments, in contrast to competing services.

Functions

Snapchat hosts a number of functions for users and brands to share content, including disappearing photos, direct messages, stories that last 24 hours, video chat, and more.

Snaps

Photos or videos sent through Snapchat are called snaps and are designed to disappear once they have been opened. Snaps can be edited with captions, drawings, and filters, and senders can choose the duration of time they can be viewed before their posts disappear. Users can replay received snaps once, and while it is possible to screenshot snaps using their phone, the sender is notified. The app introduced video snaps on May 1, 2014. Video snaps were originally limited to 10 seconds or less; the time limit was later raised to 60 seconds. The video snaps feature was removed completely in May 2017.

Stories

Stories are posts that last for 24 hours and can be published to a user's profile, restricted lists of friends, or public location-based galleries. Stories were introduced in October 2013, and by June 2014 surpassed direct snaps in views to become the most frequently used function of the app. The Stories function surpassed one billion views per day in 2014. Snapchat incorporated a Live Stories feature that allows users to share photos and videos for public viewing.

Snapchat's Official Stories section was added in November 2015, allowing users to follow public figures and influencers. The application later added a Discover section that contains ad-supported content from publishers and advertisers, charging over $50,000 per ad per day, and has become the largest revenue-producer for Snapchat.

Lens

The Snapchat Lens feature was introduced in September 2015, giving users the ability to use real-time effects that utilize face detection technology. The feature expanded in April 2017 with World Lens, adding the ability for users to put 3D rendered objects or characters into their videos and photos using augmented reality technology.

The company released its Lens Studio in December 2017, a design studio used to create augmented reality (AR) lenses for the application. The studio gives individual users and advertisers the ability to create filters and lenses using two-and three-dimensional designs. While individuals are limited to World Lens filters, advertisers are allowed to create face filters and purchase ad slots to publish them on Snapchat.

The Information reported early 2021 that Snapchat is considering incorporating Snapchat Lens into their newest generation of Spectacles—smart-glasses capable of taking and sending snaps. The report states that Snap Inc. is developing the newest Spectacles to fully incorporate AR Lens technology, offering consumers a new way to use and publish Snapchat's lens filters and interact with augmented reality.

Snap Map
Image of Snap Map

Snap Map is a geolocation feature released by Snapchat in June 2017. Snap Map is a separate section of the app that allows users to share their location and publish area-based stories, using Bitmojis as location markers. The feature was developed using intellectual property Snapchat acquired after purchasing social media map app Zenly. Map data for Snap Map is provided by OpenStreetMap and Mapbox, with DigitalGlobe providing satellite imagery.

Acquisitions

Snap Inc. has acquired a substantial number of companies since its founding in 2011, with the majority serving as intellectual property acquisitions for services added to the Snapchat platform. Recent acquisitions have been focused on augmented reality technology companies and retail analytics organizations, which highlights Snap's stated focus on increasing revenue streams and introducing augmented reality applications.

Bitstrips

Bitstrips was a Canadian media and technology company known for creating Bitmoji, an app which allowed users to create personalized avatars and stickers for messaging apps. Snap Inc. announced it had acquired Bitstrips in July 2016, assimilating the Bitmoji service into Snapchat and shutting down the Bitstrips' existing comic service. Snap later disclosed that it paid $64.2 to purchase the company.

Zenly

Snap acquired social mapping startup Zenly on June 22, 2017, before introducing the Snap Map feature to Snapchat. The acquisition, reported to cost between $250 and $350 million (including $213.3 million in cash), added Zenly's existing back-end and graphic interface to Snapchat's interface, with the exception of only showing a user's location when they open the app.

Looksery

Looksery was purchased by Snap in August 2016 for $79.4 million, with $71.2 million in retention bonuses. The "selfie" animation app's acquisition was used by Snap in the form of its Lenses feature, which allows users to place filters over themselves and others using facial recognition technology.

Vurb

Vurb, a mobile search company focused on helping consumers find local activities and make plans with friends, was also purchased by Snap in August 2016. The acquisition cost $114.5 million, and integrated into Snapchat in the form of context cards in Snapchat's search function.

Voisey

Snap acquired Voisey, a U.K. music overlay startup on November 19, 2020. The Voisey platform allowed users to overlay short music tracks over their own audio, and add audio filters such as auto-tune or auto-harmony to create remixed audio content. The acquisition is expected to introduce audio remixing tools into Snapchat's newest Spotlight feature, to compete with Tiktok's Duets and Instagram's Remix Reels features.

Ariel AI

Ariel AI, a London-based artificial intelligence startup focused on augmented reality, was acquired by Snap on January 27, 2021. The acquisition has been reported as another push by Snap to integrate real-time 3D human perception augmentation into the Snapchat platform. The company has produced software capable of rendering 3D human models in real time, allowing users to virtually try on clothes. Snap has stated that Ariel AI's team will join Snap and focus on geometry, semantics, and camera field-of-view modeling.

Fit Analytics

Snap announced March 17, 2021 that it acquired Fit Analytics, for an undisclosed amount. Fit Analytics is a Berlin-based startup that develops shopping and marketing technology used to find properly sized apparel and footwear from online retailers. Aside from Fit Analytics' personalized shopping technology, the company offers commerce and marketing analytics tools targeted at retailers looking to increase sales.

The acquisition adds a substantial e-commerce technology team to Snap Inc., and both companies have confirmed Fit Analytics will continue to operate its existing platform while building out Snap's shopping platform. The purchase is expected to function as an added revenue stream for Snap, although the social media company has not commented on how it plans to integrate Fit Analytics' tools.

Timeline

April 29, 2021
Snapchat launches its first Indian Snap Game, Ludo Club, its own version of popular board game Ludo, in partnership with Moonfrog Labs.
April 13, 2021
Snapchat announces new localised AR Lenses to celebrate the arrival of the spring and harvest season in India.
March 17, 2021
Snap acquires Fit Analytics, a personalized shopping and retail analytics application, for an undisclosed amount.
January 27, 2021
Snap acquires Ariel AI, an artificial intelligence startup focused on augmented reality and 3D modeling technology.
December 10, 2020
Snapchat announces $3.5M fund to expand support for creators and developers.
November 23, 2020
Snapchat launches Spotlight, a viral-video service intended to compete with TikTok and Instagram Reels.
November 19, 2020
Snap acquires Voisey, an audio filter and remix platform.
May 14, 2020
Snapchat adds new conversation features for public figures
March 19, 2020
Snapchat announces its Here For You service, a mental health feature released in response to the coronavirus pandemic, earlier than its originally intended April launch date.
December 28, 2019
Snap acquires Bitstrips for just $64.2 million.
Page 1 of 3

Funding rounds

People

Name
Role
LinkedIn

Aditya Sarkar

Employee

Bobby Murphy

Founder

Holly Rockwell

Employee

Jonathan Teo

Investor

Neha Das

Employee

Ona Teerikorpi

Employee

Sebastian Gil

Employee

Sriram Krishnan

Employee

Further reading

Title
Author
Link
Type
Date

How does Snapchat work and what's the point?

Maggie Tillman

Web

April 6, 2020

How to Use Snapchat: A Guide for Beginners

Christina Newberry

Web

January 10, 2018

Snap acquired Voca.ai, which makes AI-based voice agents for call centers

Ingrid Lunden

Web

November 11, 2020

Snap looks to enhance augmented reality features with acquisition of British research lab Ariel AI

Sam Shead

Web

January 26, 2021

Snapchat is developing its own take on TikTok Duets with a new 'Remix' feature

Sarah Perez

Web

March 25, 2021

Snapchat To Launch AR Glasses This Year, For Developers

David Heaney

Web

March 31, 2021

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Saumya Tewari
June 17, 2021
mint
Snap's Creator Shows--'What's On My Plate' featuring Anushka Sen and 'Vir Das - The Most Epic Max Show' featuring Vir Das are a 10-episode series with new episodes dropping every week
June 16, 2021
The Indian Express
The Cartoon 3D Style is a great lens from Snapchat and can transform anyone's photo or video into a cartoon.
Josh Hendrickson
May 23, 2021
www.reviewgeek.com
The collaboration comes out of a new project from Snapchat called "Connected Lenses." As the name suggests, Connected Lenses will enable people to "gather together" virtually for fun or interesting experiences and games. The first Connected Lens lets you play with LEGO building bricks.
Shruti Dhapola
May 21, 2021
The Indian Express
Snapchat now has 500 million monthly active users. It announced a suite of new AR-related features to boost businesses and creators on the platform.
IANS
May 21, 2021
@bsindia
Popular social media platform Snapchat has reached over 500 million monthly active users, with roughly 40 per cent of its community located outside of North America and Europe
Saumya Tewari
May 21, 2021
mint
At its third Partner Summit, Snap Inc. revealed that the platform reaches over 500 million monthly active users with roughly 40% of its community located outside of North America and Europe. In India, Snapchat has grown daily active users over 100% year-on-year in each of the last five quarters
Shruti Dhapola
May 21, 2021
The Indian Express
Snap Inc, the parent company for Snapchat, has showcased its next-generation Spectacles, its first pair of glasses which bring Augmented Reality (AR) to life. It also showcased a new kind of Lense or filter on its platform called Connected Lenses.
Jessica Bursztynsky
May 20, 2021
CNBC
Social media companies are adding more ways for creators to make money off their content in order to attract more users.
Dan Whateley
May 20, 2021
Business Insider
Snap is retiring its $1 million daily Spotlight payouts to creators, opting to distribute an undisclosed monthly sum among a wider swath of talent.
Scott Stein
May 20, 2021
CNET
The collaborative augmented reality is part of Snapchat's new push for local or long-distance AR.
Chrissy Montelli and Grace Eliza Goodwin
May 14, 2021
Business Insider
You can turn on Snapchat's dark mode from the "App Appearance" section of the settings menu, but only if you have an iPhone.
Aditya Saroha
April 29, 2021
The Hindu
The game that allows users to play with their friends on Snapchat is made in partnership with Moonfrog Labs, a Bangalore-based gaming company.
By Colin Campbell
April 14, 2021
BBC News
A boy tells how he replied to an advert on Snapchat and was groomed to sell drugs at the age of 14.
Mitchell Clark
March 30, 2021
The Verge
Snap, the company behind Snapchat, is reportedly looking to create a new generation of its Spectacles glasses, aimed primarily at creators and developers. The device is rumored to have displays for AR, unlike previous generations.
Sarah Perez
March 25, 2021
TechCrunch
One of the challenges that some would-be TikTok rivals have faced is that they often lack the same robust set of content creation tools, like filters, effects, and tools for repurposing others' content -- like TikTok's Stitch and Duet, for example. It now appears that Snapchat is working to correct that latter problem, however, as [...]
Shruti Dhapola
March 16, 2021
The Indian Express
Spotlight is available within the Snapchat app and is an entertainment platform, which contains user-generated content.
Amanda Perelli
February 25, 2021
Business Insider
This week's rundown includes a break down of how much money a college influencer makes on YouTube from ads.
Sydney Bradley
February 24, 2021
Business Insider
Without the ability to monetize Snapchat Spotlight with brand deals yet, some creators wonder about the feature's longevity.
Chrissy Montelli
February 19, 2021
Business Insider
Snapchat has a dark mode setting, but it's currently only available to iPhone users in Australia and some parts of the US.
Press Trust of India
February 14, 2021
@bsindia
Snap Inc Managing Director (International Markets) Nana Murugesan said the company aims to continue building on the growth momentum across product development
SHOW MORE

References

Page 1 of 5
Golden logo
Text is available under the Creative Commons Attribution-ShareAlike 4.0; additional terms apply. By using this site, you agree to our Terms & Conditions.