With rising competition and growing demands, it is very important for a company to be careful
about their product and service. With so many competitors in the market, who claim to be better
than each other, it is highly important that one should keep coming out with something creative
and innovative, so that they make something unique and special. If you believe you have
something great or unique, the best way to protect it is to get a patent for it. That is exactly what
Snapchat did. It got two patents in its name, and has ensured its place in the application market.
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Present Status of Snapchat:
Snapchat is amongst the top companies in the technology world, which had a steep and quite
immense growth. The company was launched in 2011, and since then it has not looked back.
In October 2013, the company was estimated to be of approximately 4 Billion United States
Dollars. In an interview given to the Forbes magazine, the CEO and Co-founder of this app
publicly accepted that he was offered a sum that was approximately 3 Billion United States
Dollar, in cash, to be acquired by Facebook. However, he turned the offer down, because he felt
that very few people get the opportunity to do what they were doing and he saw future potential
in the app as well as in the company. The results today clearly show that his calculations and
assumption were completely right.
Patent of Snapchat:
The app has the patent for the ‘Tap and Hold for Video’ technology. This technology helps the
user to open the app and can record a video or click a snap by using the same button. Holding the
click button for long will take the camera to video mode.