Snapchat is an American multimedia messaging application that enables instant messaging. The service was developed by Snap Inc., (Snapchat Inc). One of the unique features of Snapchat is that pictures, videos, and messages can be sent and these are only available for a short time. Former students at Stanford University, Bobby Murphy, Evan Spiegel, and Reggie Brown, created Snapchat. It is known for representing a new, mobile feature for social media. Snapchat allows users to interact with AR (augmented reality) objects and stickers (virtual). Snapchat has more than 293 million users and an average of 4 billion Snap are sent daily. Snapchat is available in 37 languages. Snapchat is more popular among young people, that is teens below the age of 16. But, this leads to privacy concerns for their parents. Let us see who owns snapchat.
Snapchat is famous and popular on social media. It has an irreplaceable place that is impossible to ignore. Snapchat is not owned by giant tech companies like Google, Meta, etc. Snapchat is owned by a company known as Snap Inc. Snapchat initially operated under Snapchat Inc between 2011 and 2016.
Who Owns Snapchat?
Bobby Murphy and Evan Spiegel, they both founded the Snapchat nd owns it. Evan Spiegel owns 13% of the company whereas Bobby Murphy owns 15%. Apart from the shares they hold, Bobby Murphy is the Chief technology officer and that is why he owns a 2% more than Spiegel. Bobby Murphy works behind the scenes. He occasionally shows up for technology-based interviews. Evan Spiegel is the face of the company. He deals with relations with the public. Murphy and Spiegel met at Stanford University. Murphy was 2 years ahead of Spiegel. Later, Spiegel ended up dropping out of Stanford to run Snapchat in 2011. Spiegel became a billionaire at the age of 25, thanks to Snapchat. At present Spiegel has a net worth of $13.6 billion whereas Murphy’s net worth is $14.9 billion.
Murphy and Spiegel own 30% of the company altogether. But, they do not have the right to vote because of the share they own. These types of shares are for the public stakeholders. Spiegel was the youngest billionaire in 2015. After three years of Snapchat, Murphy got featured in Forbes (for consumer technology) 30 Under 30.
Evan Spiegel is the Co-founder of Snapchat, and he owns the post of CEO. More than 293 million people send Snap on Snapchat that is to send disappearing photos and videos. The more they earn, the more they donate. More than $280 million is donated in Snap stock. Spiegel and Murphy decided to donate to the Snap foundation (13 million shares).
Features of Snapchat
The following are the features of Snapchat
- Snapchat decided to call it “Picaboo”.
- Snap Inc Brands itself is a “camera company”.
- The website states that they reinvented the camera to improve the life of its users.
- Over 7 Billion photos and videos are viewed and shared on the application daily.
- Out of 300 Million users, 61% are female.
- Out of the total users, 45% of the users are aged between 18 to 24.
- On average, a 25-year-old uses Snapchat for more than 40 minutes a day.
- Snapchat was offered one billion dollars, then $3 billion, and then $4 billion by Facebook, which made 3 separate pleas. But Snapchat turned it down.
What is coming Next on Snapchat?
The transient messaging persists to grow in vogue, and users are expecting endless competition between Instagram and Snapchat. Advertisers are already disbursing more money on social media promotion than on TV ads. The prediction platforms say that platforms like Snapchat will resume innovating mint practices to serve ads that are proper and not disruptive for their audiences.
Snapchat is a renowned social media platform that is more famous among young generations. Snapchat is for youth, fun-loving people and it allows its user to connect with their friends. Its features make it fascinating about sending photos and videos with a disappearing technology. Users can send pictures, and messages, post things, and can keep track of the most talked person. This widespread platform provides a community that is not seen on other social media platforms. More than 300 Million use Snapchat and are satisfied with its interface, easy-to-use environment, and features that keep on adding.
Frequently Asked Questions
- How many people use Snapchat?
Snapchat has a daily usage by over 280 million people, most of whom are from the United States.
- Did Facebook buy Snapchat?
No, Facebook did not buy Snapchat. Facebook has tried to buy Snapchat three times, but the founders of Snapchat were not looking to sell their dream come true social media application.
- How does Snapchat make money?
Snapchat offers different features for its users to take pictures and videos through the mobile-phone camera application. It helps its users to take pictures, take to family and friends, update their close people about their whereabouts, and chat. So, Snapchat mainly gets its revenue from advertisements.