Snapchat Fast Company Inspires Young Entrepreneurs
Today this blog features Fast Company: SnapChat. Fast in the sense that, SnapChat in less than Two years, becames a $860 Million Company.
- CEO: Evan Spiegel
- Category: Photo Sharing Application, Social Networking Theme
- Website: www.Snapchat.com
- Founded Year: 2011 September
The important Note is as usual (Like previous posts of this blog), CEO of SnapChat is a 23 years old guy. J.J. Colao further writes, "..SnapChat raised a $60 million Series B rounde led by Institutional Venture Partners, With Participation from General Catalyst, Benchmark, Lightspeed Ventures and SV Angel." So what is SnapChat and how did it starts?. In this post today, I am going to write some interesting things about Snapchat, and the purpose of this article is, to inspire new young entrepreneurs, Who dream big.
Further writes, ...The round, which values the photosharing company at $800 million pre-money, means that Snapchat is now an $860 million company in the eyes of venture capitalists".
What is Snapchat?
Snapchat is photo sharing application, which runs on iPhone and Android. Snapchat official claims that, using this application, users can send up to 10 time faster than usual MMS.
Special Features of SnapChat
Important features of SnapChat than usual photo sharing applications, users of SnapChat can set time limit for how long recipients can view their photos (time limit up to 10 seconds), and then automatically, photos will be disappeared from the recipient's device and also from the servers of Snapchat. That’s the reasons, why users are sending their more private pictures compare to other photo sharing tools. But Controversy: the Electronic Privacy Information Center filed a complaint against Snapchat, saying actually pictures can still be retrieved so, the company deceived its customers by leading them to believe that pictures are destroyed within time limit. Source: wikipedia.
Anyway, this different idea of photo sharing, makes Evan Spiegel and his company SnapChat a company of $860 million valuation, within 2 years of its formations.
According to techCrunch, over 20 million and more photos shared per day, using SnapChat applications.
History of SnapChat
Well, again history of Snapchat is very interesting, like many successful tech companies, Evan Spiegel and his friends, launched SnapChat from Spiegel's father's living room in September 2011. And now their different idea on photo sharing tool makes them, owners of a company with $860 million valuation in less than 2 years.Hope this story inspired you, and gives some effort to stick in your goal.