Today we're heading west and digging up some news and info about the app that has every teen and his cat glued to their phone it's not Facebook Twitter or Instagram it's called Snapchat and we can almost guarantee that you won't find your grandfather or Aunty on their social media can be a great place on the Internet where people can spend most of their time connecting and talking to friends sharing news having fun and most likely killing their productivity it's a new way to connect with everyone in the virtual space while borderline ignoring people in your real-life like it or not these platforms look like they're on the rise and are becoming the downfall of the modern man Snapchat as a social media platform has been around since 2011 but gained massive popularity over the past couple of years the idea for this app came after one co-founder sent a picture he later regretted sending. If you don't know what Snapchat is or how it works we are here to clear the air for you Snapchat is a messaging app that deletes everything you send or receive a couple of seconds after opening it also allows you to send pictures or short videos where you can insert a caption or a funny filter the snap picture or video will be seen by your friends for a few seconds only and after that, it'll get deleted from the app you can share snaps with a group of your closest friends or add a story for all of your contacts to see for 24 hours pretty smart and cool tool later on they developed some neat filters and options that made everyone go crazy for the app like the dog filter like puking rainbows and we're certain you've probably used it or at least heard about it by now so we're pleased to teach you some more about this app the company and the founders in this Snapchat history and facts.
1. Like many other good ideas, Snapchat came from a bunch of Stanford students
Evan Spiegel Bobby Murphy and Reggie Brown came up with the idea of creating Snapchat while studying at Stanford the project came to life in 2011 and nowadays is one of the most used social media platforms with over 190 million active users, of course, they turned the project into a business risking a lot but we have to admit they nailed it pretty amazing.
2. It's the Millennials and the cool brand's app
Facebook is so popular nowadays that everyone has an account these social media platforms bring a different vibe and have niches of young people that are dying to explore Millennials more than ever use Snapchat for everyday conversations and entertainment they follow celebrities like Kylie Jenner Taylor Swift and Selena Gomez to see their day-to-day life and how they look with their dog filter on it's probable that if you're not in your 20s or younger you might not enjoy Snapchat as much and just like Millennials brands that want to reach out to them had to develop a Snapchat marketing strategy.
3. Companies pay serious cash to have custom-made filters on the app
As we mentioned in the intro the dog-faced filter, the puking rainbow, and the beauty filter are the top three most used filters on Snapchat everyone on the platform is using them at least once a day or try to augment it on others but a company has to turn out profits so seeing how popular face filters were Snapchat came out with the option of custom-made filters for brands but the app can only support so many filters to run smoothly which led to an increase in the competition and the money being brought in.
4. 70% of users are Females
Snapchat was a social app meant for Millennials they understood how social media works and what the audience needs having gained so much popularity these past few years it means more exposure for the young company Millennials are a large pool that a lot of brands want to attract and Snapchat is the way to do it over 70% of its users are female which means roughly 30% are males the app is said to process around 400 million photos and videos a day and more than 20% of all iPhones come with Snapchat apps downloaded on them.
5. The founder Evan Spiegel has a net worth of $2.6 billion
Evan Spiegel is one of the youngest billionaires in the world having a net worth of 2.6 billion dollars at the age of 27 he created Snapchat with his former college mates around six years ago and is now the company's CEO constantly working on improving the app out of the three founders only two of them remained in the business up to this day Evan is now married to the gorgeous Victoria's Secret model Miranda Kerr that he proposed to with a 2.5-carat diamond that costs an estimated $75,000 to $100,000 not too shabby Snapchat went public a few years ago so if you want to be a part of it you can buy some shares.
6. Your snaps are not quite deleted forever from their servers
What made Snapchat so famous was the fact that photos and videos disappeared after they were opened by the receiver having your message deleted after being received was a new approach no one had tried before usually all messages pictures and videos remain on the server or in their library of the conversation but snaps didn't or at least that's what they wanted us to believe the company was called out for its data storage claims and obliged to change and clarify their process apparently snaps are stored on Snapchat servers for 30 days before being deleted for good deleted forever means after a month with Snapchat so keep that in mind when you send controversial pictures because all servers are susceptible to hackers.
7. Instagram and Facebook copy everything Snapchat does well
You know you're doing well in life when your competition copies everything you do coming up with new features and constantly improving requires a lot of research and creativity, not all ideas are good and some need to be exactly what people need and like we have to admit that all the good things on this planet are the end result of our ancestors fails and great ideas nothing is new and everything is actually an improvement or an early prototype same goes with social media the 24 hours story was an idea introduced by Snapchat and later on added to Facebook Instagram & even WhatsApp dog filter you'll find it on Instagram as well featuring brands and the new filters added on the app it's on Facebook too original not so much what does it work of course it does.
8. Cosmopolitan tried to add an x-rated channel to the app but it didn't go so well
Snapchat is a free app all social media platforms are free to use but how do they make money they need improvements, customer care maintenance, and all sorts of things daily this is when advertising and customized content comes in Cosmopolitan is a well-known women's magazine they wanted to ride the Snapchat wave and decided to go even further and have an x-rated channel on it with that they wanted to talk about taboo and sensitive subjects on the platform but it was not received extremely well by critics and users after just one audition they closed the channel and never mentioned it again the content was all cosmos but the critics and the fact the app was used by so many teens and youngsters forced them to close it.
9. They're not giving up the spectacles even though it's not a successful product
Remember the Google glasses, yeah neither do we there are so many products launched every day that don't become popular a lot of effort goes into every product launched but sometimes they don't end up on the shelves even if some might deserve to business is hard and deciding when to drop a product it's not a decision everyone can make well Snapchat decided to come up with a pair of smart glasses as well that allows users to record video for the app but just like the Google glasses they didn't do well in sales her Snapchat might have some new plans for the product because they just launched the second generation in April two thousand eighteen we're looking forward to seeing what the numbers are for these.
10. Snapchat has a market capitalization of $13.47 billion
Think of any business or domain as a PI social media is a PI beauty industry is a PI and Technology is also a PI some are bigger some are smaller but each PI is divided into smaller pieces if you want to know how much of the PI you actually have you can look at the numbers they never lie in the social media pi Snapchat has a market capitalization of $13.47 billion worth however market capitalization is not always an accurate indication of the real value of a company because it doesn't account for debt and other factors in the business the app had a big boom around four years ago and then a slow decrease but they're still going strong with millions of active users every month do you still use Snapchat hence since we're on the social media train.
GOODBYE.
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