Oh my. Seeing Snapchat grow throughout the years to what it has become now has been an amazing sight. I remember first downloading Snapchat onto my phone probably around three years ago. I will say that it is hands down one of the best apps invented.
As far as social media and interaction goes, Snapchat allows users to simply “snap” pictures or videos (up to 10 seconds) and share them with other Snapchat users and friends. After a designated viewing time is up for the receiver, the content disappears, never to be retraced again. This is the main concept of the app. However, through the years, Snapchat has developed updates, further enhancing the picture/video capturing experience. From adding “bestfriends” of the people you snap the most to having one of the biggest updates, “Snap Stories” where people can share daily snaps in one location for others to look at. These updates have began to draw in more and more users, making Snapchat one of the largest privately owned app companies. Today, Snapchat is estimated to be worth well over $20 million. Another big update Snapchat jumped on were the involvement of advertisers. From snapstories coming from big companies like CNN and Fox and gossip from Buzz Feed and Comedy Central, the amount of content a user can experience is essentially endless; constantly being updated around the clock.
One of the biggest and most successful launches Snapchat has had was their unveiling of filters and “Geofilters”. Depending on the users location and the day, a picture can be taken and the filter can be altered, possibly with fireworks around the picture, advertised by Walmart for Independence Day or a Christmas tree advertised by Hollister. The amount of involvement outside companies have on Snapchat are huge. The money that is brought in is massive. The audience is young and vulnerable and best of all, the advertising doesn’t take away from the Snapchat experience. This is by far one of the most brilliant marketing strategies I have yet to see.
Just recently, Snapchat changed its’ name (as of two weeks ago) to Snap Inc. Snap Inc. has also just released an actual, physical product called “Spectacles” which allows users to record video from a camera in the sunglasses. Snap Inc. is getting huge. They’ve moved from virtual to physical. Once released, these glasses will revolutionize the way users capture and share the world they see, real-time.
In the end, I want Snap Inc. to go public and have an IPO as soon as possible. I want to be the first to find out too.