Snapchat’s Future Plans- Acquisitions and the Upgrade of the Features
Almost a couple of years back a photo-messaging app called Snapchat took the world of social
networking apps by storm. The app Snapchat became popular with its unique feature of
ephemeral photos and videos which appeared and disappeared within just a few seconds. The
ephemeral feature of the app is probably created based on the ephemeral nature of everything
on this earth. The realistic approach of the company appealed to millions of people worldwide
especially the teenagers who were fonder of the appearing and the disappearing feature of the
The reason for declining the offers of acquisition
The company was initiated by the founders Evan Spiegel and Bobby Murphy with a small but
dedicated team of professionals, a few servers and a revolutionary idea which could be appealing
to most of the people in the world. Snapchat did not generate any revenue for a year or so
but got phenomenal response from users and followers despite some inevitable controversies.
After a couple of years or so the valuation of the company was raised to almost $10 billion
and it declined many acquisitions as that had better plans for the future. The company left the
world in shock after declining the $3 billion acquisition from Facebook, one of the most famous
social networking sites. People all over the world speculated about the desperate move taken
by Snapchat but the plan of the company now becomes clear with many investors courting the
company and the latest leaked mails from Sony Pictures.
The leaked mails of Sony Pictures hack reveals the acquisitions made by Snapchat. The leaked
emails revealed Snapchat’s plan for launching music feature in Snapchat and the company is
planning to partner with Twitter. The emails depicted that Snapchat bought iBeacon startup and
QR scanning called Scan.me in cash for $14 million. The company also acquired Vergence labs
for $11 million cash and $4 million stock which is renowned for making eyeglass video camera.
The mails showed that the co-founder of the company Evan Spiegel is aspiring to promote
various artists through the music feature of the app. Some rumors even reported that the mails
revealed that the deal of acquisition from Facebook was more than $3 billion.
Snapchat’s acquisition of the makers of smart glasses
The reason for acquisition of Vergence Labs by Snap chat is not clear. The core product of
the acquired company is the Epiphany Eyeware which have built-in camera which can record a
video only with a tap on a button that could be uploaded to the computer later. The smart glasses
are generally available with a storage space of 8, 16 and 32 gigabytes. The smart glasses come
with HD videos and cloud storage. The real motive of the company in acquiring this company is
not yet clear but the feature of the smart glasses suggest that Snapchat has big plans in mind.
Snapchat preferred to acquire various companies so that it can upgrade the services and improve
the features instead of being an acquisition itself.