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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

photos and the privacy they enjoyed using the app.

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.

Snapchat’s acquisitions

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.

Finally Snapchat

Snapchat preferred to acquire various companies so that it can upgrade the services and improve

the features instead of being an acquisition itself.

snap chat