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

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.

November 9, 2017

Snapchat raises a $2,000,000,000 venture round from Tencent.

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.

May 2016

Snapchat raises a $1,800,000,000 series F round from M13, Sequoia Capital, IVP, Geodesic Capital, Meritech Capital Partners, Telstra Ventures, Glade Brook Capital Partners, T. Rowe Price and Lone Pine Capital.

March 12, 2015

Snapchat raises a $200,000,000 series E round from Alibaba Group and Kingdom Holding Company.

December 31, 2014

Snapchat raises a $485,000,000 series D round from Kleiner Perkins Caufield & Byers, GIC Pte Ltd, HDS Capital and Yahoo!.

December 11, 2013

Snapchat raises a $50,000,000 series C round from Coatue Management.

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Funding rounds

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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
Lucas Matney
June 23, 2020
TechCrunch
Snap's latest developer offering is a tool called Verify that's aiming to save its mobile-first developers cash on verifying user phone numbers en masse. The new tool is being integrated into its Login Kit framework allowing devs with a "Log In with Snapchat" button to move away from tapping services like Twilio for SMS verification, [...]
Alex Hern
June 15, 2020
the Guardian
Snapchat is ahead of Twitter on user numbers but behind Instagram and Facebook. Photograph: Denis Charlet/AFP/Getty
Romain Dillet
June 11, 2020
TechCrunch
Snap is unveiling some important changes for Snapchat at its Snap Partner Summit. The navigation has been rethought with a new action bar at the bottom that lets you access Snap Map and Snap Originals in just a tap. Snap Map is also getting some brand new features to compete head-to-head with Google Maps. A [...]
Lucas Matney
June 11, 2020
TechCrunch
Snapchat's augmented reality dreams might be starting to look a bit more realistic. The company has been subtly improving its AR-powered Lenses every year, improving the technical odds-and-ends and strengthening its dev platform. The result is that today, more than three-quarters of Snap's daily active users -- some 170 million+ people -access the app's augmented [...]
Sarah Perez
June 3, 2020
TechCrunch
Snap today announced the global expansion of its new advertising product, Dynamic Ads. The ad product first introduced last fall allows advertisers to automatically create ads in real-time, using the brand's extensive product catalogs. Snap provides a variety of mobile-ready templates for advertisers to choose from, then serves the ads to Snapchat's 229 million daily [...]
Sarah Perez
April 14, 2020
TechCrunch
Newly launched mobile streaming service Quibi is killing one of its more highly-anticipated series -- a show depicting Snapchat's origin story, focused on founder Evan Spiegal. The news was exclusively reported by Variety on Tuesday, which did not detail the source of its news. Plans for Snapchat show were first announced at SXSW in 2019, [...]
April 9, 2020
International Business Times UK
Last week the Snapchat developer collaborated with WHO to introduce two new lenses to help with social distancing.
Alex Hern
April 8, 2020
www.theguardian.com
Google%20outage%20hits%20Gmail%2C%20Snapchat%20and%20Nest%20%7C%20Google%20%7C%20The%20Guardian
By Ian Randall For Mailonline
April 7, 2020
Mail Online
When a note is viewed through the lens, the app uses augmented reality to show how a donation would support the Swiss-based World Health Organization's response efforts.
Josh Constine
March 31, 2020
TechCrunch
If you can't stop them, power them. That's the strategy behind Snapchat App Stories, which launches today to let users show off their ephemeral content in other apps too. The first partners will let you post Stories to your dating profile in Hily, share them alongside [music] videos in Triller, watch them while screensharing in [...]
By Stacy Liberatore For Dailymail.com Joe Pinkstone For Mailonline
March 25, 2020
Mail Online
Snapchat is launching 'Coronavirus: The Latest' in Discover to provide up-to-date new coverage and information about the virus that pulls from news sources and health and government agencies.
Josh Constine
March 24, 2020
TechCrunch
Snapchat's location sharing app acquisition Zenly has gamified shelter-in-place during the COVID-19 outbreak. Today the app launched its Stay At Home challenge that shows a leaderboard of which friends have spent the most percentage of the last three days in their homes. Users can see who's social distancing the best and share stickers of the [...]
By James Pero For Dailymail.com
March 13, 2020
Mail Online
An internal memo circulated by Snapchat CEO Evan Spiegel, says the company will cancel an event scheduled for April 2 that was meant to act as a summit for developers, advertisers, and creators.
February 13, 2020
Moneycontrol
The app will see two major changes- a new spot for its Snap Map for iOS and Android users and a section for latest news updates.
Josh Constine
February 4, 2020
TechCrunch
Snapchat still isn't profitable nearly two years after its IPO. In Q4 2019, Snap lost $241 million on 560.8 million in revenue that's up 44% year-over-year and an EPS of $0.03. That comes from adding 8 million daily users to reach a total of 218, up 3.8% this quarter from 210 million and 17% year-over-year. [...]
Sarah Perez
January 23, 2020
TechCrunch
Snapchat and NBC Olympics are again teaming up to produce customized Olympics content for users in the U.S. -- this time, for the 2020 Tokyo Olympics this summer. The companies had previously worked together during the Rio 2016 and PyeongChang 2018 Olympics. The PyeongChang Olympic Winter Games in 2018 reached over 40 million U.S. users, [...]
Ingrid Lunden
January 3, 2020
TechCrunch
After acquiring Ukraine startup Looksery in 2015 to supercharge animated selfie lenses in Snapchat -- arguably changing the filters game for all social video and photo apps -- Snap has made another acquisition with roots in the country, co-founded by one of Looksery's founders, to give a big boost to its video capabilities. The company [...]
Paige Leskin
December 5, 2019
Business Insider
Snapchat recently released the newest model of its smart glasses, called Spectacles 3, that allow for you to capture first-person videos and photos.
IANS
November 19, 2019
The Hindu
Snapchat CEO Evan Spiegel said the company subjects all advertising to review, including political advertising
Makena Kelly
November 18, 2019
The Verge
Facebook has come under fire for its policies on political ads over the past few weeks, and now Snapchat CEO Evan Spiegel has joined the chorus of voices in support of fact-checking politicians.
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References

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