Snapchat meets Yahoo- when one of the coolest start-ups reached a new height
When Snapchat was born in 2011, many of the social media pundits raised their eyebrows in
unison- first in the confusion about what is Snapchat and then, regarding the future of this
app which functions in temporality. But as time progressed so was the popularity of Snapchat
and now it’s not only limited to the millions of users but also the biggest investors like Alibaba
Group Holding Ltd., Kleiner Perkins Caulfield & Buyers and recently Yahoo, not to forget the
interest shown by Facebook in buying out Snapchat.
What is Snapchat- the meteoric rise of the app
Snapchat is a photo-sharing app that helps people to send friends pictures- of themselves,
beautiful objects or anything they like. The content of the Snapchat photo can be ‘risqué’ in
nature but the catch lies in- that within few seconds the photos will get deleted. So those who
feel embarrassed later about their contents in social networking sites, feel relieved by the nature
of auto-delete Snapchat pictures. Initially the target market of the Snapchat was the teenagers
but now it has loyalists among adults and various brands alike. There are many reasons for which
daily 700 million ‘disappearing’ photos are being exchanged through Snapchat and over 500
million stories have been observed. The easy way to delete Snapchat pictures prompts sexting
as well as pushing the brands to extricate the benefits of this medium, by making vanishing ads.
Also Snapchat gives the pleasure of anonymity for certain communities like transsexuals or HIV-
support group. All in all, when in 2013, Facebook proposed an acquisition deal of $ 3 billion to
Snapchat then nobody was surprised that the latter turned it down.
Restroom Time I Am Having A Hard Time Here Bro
The potential of Snapchat got further validated by Yahoo
Like most of the other social networking sites, Snapchat was initially founded by three Stanford
University – grads- Evan Spiegel, Bobby Murphy and Reggie Brown, who aimed to build
something funny, quirky and easy in digital space, to connect with friends. But nobody had
the inkling that later their pet project would snowballed into something so big. If we keep
aside the controversy surrounded by the origin of Snapchat and the consequent legal battle
between Evan Spiegel and Bobby Murphy Vs Reggie Brown; Snapchat has all the qualities of
attracting the eyeballs of media, users and venture capitalists –alike. And when in October 2014,
Snapchat closed a deal with Yahoo where the former is valued at $10 billion, this fact got more
Earlier in October, Evan Spiegel discussed during Vanity Fair New Entertainment Summit
in San Franciso about the effort that has been taken to promote Snapchat like a business with
advertisements and ‘telling a story’. Though many can say that the process of making Snapchat
an independent conglomerate had begun when previously, the company got funding from
investors like Benchmark, SV Angel, General Catalyst to name a few.
Right now, the company who saw the lights of the day just three years ago can be counted
among elite group of start-ups like Uber Technologies, Dropbox Inc. and Airbnb Inc. that earned
eleven-digit valuations and offer unique services to users.