Snapchat

Snapchat

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

Snapchat, a product of Snap Inc., is a free image messaging application. Messages (in the form of photos) are only available for a certain amount of time (decided by the sender) before they disappear. Users can decorate their photos with filters, stickers, and augmented reality objects. The app also features "stories," a platform that allows users to share photos with all of their contacts that will be accessible for 24 hours, and "Discover," which showcases short-form vertical video from brands such as The Daily Mail, Mashable, and Cosmopolitan.

Snapchat has approximately 158 million daily active users. Snap generates nearly all of its revenue from advertising with 88% coming from the U.S. The firm is headquartered in Venice, California.

History

Snapchat was launched as Picaboo, an app for exclusively 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, 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 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 2016, Snapchat Inc. was restructured as Snap Inc., with the Snapchat app as a product. In 2017, Snap moved announced their IPO, under the trading symbol SNAP, and was able to raise $30 billion in the first day of trading. In the same year, the company launched Spectacles, sunglasses with built-in cameras that could record 10-second video.

Timeline

December 10, 2020
Snapchat announces $3.5mn fund to expand support for creators and developers.

May 14, 2020
Snapchat Adds New Conversation Features for Public Figures
March 19, 2020
In response to the coronavirus pandemic, Snapchat announced on Thursday that it has pushed out Here For You, a mental health feature, earlier than its originally intended April launch date.
December 28, 2019
Snap acquires Bitstrips for just $64.2 million.
April 26, 2018
Snapchat launches Spectacles V2.

Snapchat fixed the biggest pain points of its Spectacles camera sunglasses with V2, which launch today for $150.

March 2, 2017
Snapchat's IPO opened shortly before 11:20 a.m. on Thursday in New York, and started trading at $24 a share, rising 41.2 percent from its pricing at the open.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Snapchat Series F round Funding Round 2016
1,800,000,000
May 2016
8 Results
Results per page:
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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

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Amanda Perelli, Dan Whateley and Sydney Bradley
January 26, 2021
Business Insider
Insider spoke with creators who broke down how much money they have made on Snapchat's new short-form video feature, Spotlight.
January 15, 2021
The Indian Express
After indefinitely suspending Trump's account following the Jan 6 Capitol riots, Snap Inc has "been assessing what long term action is in the best interest of our Snapchat community," the company said in a statement.
USA TODAY
January 14, 2021
USA TODAY
Snapchat has permanently suspended President Donald Trump's account, saying the ban is based on attempts to incite violence and spread misinformation.
ANI
January 14, 2021
@bsindia
Snapchat has decided to permanently ban US President Donald Trumps account over his role in inciting the Capitol violence
Lucas Matney
January 14, 2021
TechCrunch
Quite a bit has happened since Snap announced last week that it was indefinitely locking President Trump's Snapchat account. But after temporary bans from his Facebook, Instagram and YouTube accounts as well as a permanent ban from Twitter, Snap has decided that it will also be making its ban of the President's Snapchat account permanent. [...]
James Rogers
January 7, 2021
Fox News
Snapchat has locked President Trump's account in the wake of the rioting that engulfed the Capitol on Wednesday.
Allana Akhtar
January 7, 2021
Business Insider
Snapchat had stopped promoting Trump's account in the app's Discover section starting in June following his comments after George Floyd's death.
BBC News
December 30, 2020
BBC News
Founder Evan Spiegel has questioned whether platforms are responsible for user behaviour in a BBC interview.
Bijan Stephen
December 14, 2020
The Verge
Bitmoji Paint places players on a gigantic, pixelated grid, and lets them paint those squares as a shared canvas. Users can also interact with other players around the world using stock emotes, and there's a VOIP function so you can talk to your friends while you're scribbling.
Karissa Bell
December 10, 2020
Engadget
Twitter is introducing new sharing tools that allow users to natively share tweets to Snapchat and Instagram Stories.
IANS
December 10, 2020
@bsindia
Photo-messaging app Snapchat on Thursday announced an investment of $3.5 million to expand its support for Augmented Reality (AR) creators and developers on its platform.
Mariel Soto Reyes
December 8, 2020
Business Insider
India's TikTok ban lead to big gains for Snapchat and Instagram in Asia-Pacific, on top of general growth for the platforms driven by the pandemic.
Paige Leskin
December 3, 2020
Business Insider
The significant content team departure comes after former editorial employees came forward with allegations of racism and sexism.
Alexei Oreskovic
November 25, 2020
Business Insider
In this week's edition of the Insider Tech newsletter, we look at Snapchat's TikTok envy, and we celebrate the 100 top startups of 2020.
Casey Newton
November 24, 2020
The Verge
The company announced a feature that will algorithmically highlight viral content, not based on how big a user's follower count is, with a daily $1 million payout. But can a reimagined, algorithmic way to reward viral content take users away from TikTok?
Trevor Mogg
November 24, 2020
Digital Trends
Snapchat is offering cash payouts to creators of the most popular content posted to its TikTok-like Spotlight feature, which launched this week.
Alex Hern
November 23, 2020
the Guardian
Messaging app to pay users for most viral 'snaps' as it seeks to head off exodus to TikTok
AFP
November 23, 2020
CTVNews
Snapchat on Monday unveiled a new curated short-form video feed in a stepped up challenge to social media rivals like TikTok.
Josh Hendrickson
November 23, 2020
www.reviewgeek.com
TikTok gained notoriety through its quick and easy vertical videos designed to go viral. Now Snap, which owns Snapchat, wants in on the viral vertical video game, and it's new Spotlight feature copies the basic concept of TikTok. But, it might actually pay you if your video goes viral.
Ashley Carman
November 23, 2020
The Verge
Snapchat is launching a new tab called Spotlight that'll feature TikTok-like videos. The company is also offering up $1 million per day to be split among the creators of the most popular videos each day.
SHOW MORE

References

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