Snapchat added new features (like Snapchat stories), which made the company grow even faster.

The pace of growth accelerated in June 2013 the valuation of the company (after the other two investment rounds) grew to $800 million. The first investment arrived in April 2012, when a venture capital firm made its first seed investment by valuing the company at $4.25 million.īy the spring of 2013, more than 60 million snaps were sent daily. In less than a year, by the spring of 2012, Snapchat had 100,000 users. However, the app soon started to get traction. The three young men put together an app which at the time it was called Pictaboo:īy the end of the summer, the app only had 127 users! The name was changed to Snapchat in the fall of 2011. That is how in 2011, the idea behind Snapchat was born. In the spring of 2011, Reggie had this idea – how cool would this be – if the photos he was sending to a girl would soon disappear. The same year they joined together the Kappa Sigma fraternity house at Stanford. The initial traction of Snapchat (Source Snap financials).īack in 2008, Evan Spiegel met Reggie Brown during his freshman year. The company also produces Spectacles, a set of AR glasses enabling content creators to produce interactive experiences through Snapchat. Snapchat generates most of its revenue from several ad formats ( AR Ads, Snap Ads, Sponsored Geolifters, and Sponsored Lenses). Snapchat is a camera company which business model moves across three industries: social media, content marketing, and AR. Digital Business Models Podcast by FourWeekMBA.Business Strategy Book Bundle By FourWeekMBA.An Entire MBA In Four Weeks By FourWeekMBA.100+ Business Models Book By FourWeekMBA.

What is snap inc