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Transcript of Snapchat
"Deletion should be the default"
How it Works
Snapchat, Inc. developed a text and photo based messaging application for mobile phones. The company was founded in 2012 and is based in Venice, California.
For the purposes of this presentation
Please take out your phone and add the following on Snapchat if you would like to view our snap story example
Android and iOS products easily download through the iTunes App Store and Android Store
By Nicky Chapman, Kyra Doher and Lindsay Kerr
Allows users to send pictures or videos to a controlled list of friends
Shows photo for an allotted amount of time before it is deleted forever
The company, as of 2013, reported that users send 350 million photos or videos per day (compared to the 55 million photos shared on Instagram daily).
Evan Spiegel (23)- Co-Founder, President, and Director (CEO)
Robert Murphy (25)-Co-Founder and Chief Technical Officer
Evan Spiegel and Bobby Murphy are both Stanford dropouts.
They started Snapchat in 2011 with their Stanford classmate Frank Brown. Originally named Picaboo.
He is currently suing them for taking credit for his idea and excluding him from the Company when it was first starting out
Facebook bid $3 billion to buy Snapchat in the fall of 2012, but the multi-billion dollar deal was turned down even though Snapchat has no revenue.
However, the success of Snapchat has been noticed, and investors have put $123 million into the company making it valued at over $2 billion.
The company has grown in just 2 years from having zero to tens of millions of users sending about 400 million snaps a day- and both those numbers continue to grow
To send on snapchat...
Take a picture of yourself
Choose who to send it to...
Write a message...
The concept of having pictures be deleted after a certain amount of time, was what originally made Snapchat so popular.
Team Snapchat have developed a blog where they post updates and news to their followers such as....
Snapchat's logo is a ghost named "Ghostface Chillah" which is in honor of the rapper Ghostface Killah
In October 2013, Snapchat introduced stories
What are Snap Stories?
Snap Stories are essentially a digital photo album
Unlike traditional snap chats, they don't disappear immediately and are available for 24 hours
Fiscal and Economic History
Snapchat has been so successful so quickly, that many companies including Google and Yahoo are investing in similar features
There are other communication apps that are becoming popular including Whatsapp, WeChat, Kik, MessageMe, KakaoTalk, and Line
However, these apps are all just standard messaging apps, and do not allow users to use pictures to send messages like Snapchat does
2011- Spiegal, Murphy, and Brown start Picaboo. They have a dispute and Spiegal and Murphy pushed Brown out of the company and renamed it Snapchat. It was first available in Orange County, and within two months, it had 3,000 users.
2013- Snapchat raised $110 million with assistance from the Institutional Venture Partners and Coatue Management who valued the company at $800 million and $2 billion
Snapchat has been trying with minimal success to encourage businesses to use Snapchat for marketing
Taco Bell used Snapchat to advertise its new burrito, and is currently experimenting with Snapchat stories