A brief story about Snapchat
So our story starts with Reggie brown he had the first idea of 8 disappearing pictures. And what he did was he came to Evan. Evan Spiegel is probably the most famous of the 3 added to Snapchat.
He came to Evan with the idea because I haven’t had prior experience in the business. And then Bobby Murphy is a programmer that they both knew and they came to him and he said, Hey will you have coding experience can help us make this thing?
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First Version
And then 3 months later they launched the very first version of Snapchat it was called. And so that was 7/8/2011 and then Reggie brown was ousted from Snapchat also known as being sucked into the startup community by Mark Zuckerberg. He was ousted from Snapchat and there isn’t really a lot of information on why. But chances are it’s probably because there was not much for him to do because he was the person with the idea and then the other 2 were either programming or you know working on the business itself.
So I guess you probably found himself that much to do at Snapchat but Reggie reaches out by email to Evan Spiegel offering to renegotiate his equitable share of Snapchat. And what happens what’s his response. Well, the lawyer’s response said that Reggie had made no contributions of value and was no title to any share or he was entitled to a share of nothing basically because you hadn’t really had a lot to do with the actual creation of the app other than the original idea of course.
But Reggie brown settles with the others for 157000000 after convincing everyone for years and years in the courts that he was, in fact, the original founder of the idea. So he, fortunately, got to walk away with quite the handful of cash.
So at this point, there are really only these 2 founders left and Evan Spiegel. The guy on the right starts positioning Snapchat as the solution to people being stressed out about unforgiving and permanent social media. You know like when you post a picture to your Facebook account and then you have to go in UNTAG yourself because you don’t want your future employers to see that picture.
Snapchat Growth
Well, that’s the sort of thing that Evan Spiegel says that Snapchat was meant to salt solve the unforgiving nature of social media.
So our story continues and Snapchat starts to grow. Rapidly after 1.5 years, there are already 20000000 snaps sent her day. So that’s a huge amount and as far as their future timeline goes.
The Concept Of Snaps
This is when they released each of these features at the start you could really only send the disappearing pictures which lasted between 1 and 10 seconds and these were known as snaps that were at the very start when they launched on 7/20/11.
So you can send these directly to your friends or you could post them on your story either way. Then in 12/20/12, they released video snaps. So instead of sending just pictures, 9 could stand up to 10-second videos.
video calls and direct messaging
2 years later video calls and direct messaging were added directly to the app. Another year after that they removed the feature where you have to hold down on the screen in order to keep viewing a snap so that we would only have to tap on it.
It made it a lot easier so you can see a lot of the value of Snapchat is in what they take away and how they simplify the app. A few months later they added lenses that are augmented reality or face. The facts that you can swipe right and left on the screen in order to you know make yourself look like a cat or now you can even change your gender which is very interesting okay these filters.
Memories Feature
Another year later added memories which is the ability to save your snaps to your own private storage area. Finally 1 more year after that they edited the unlimited viewing time options. So that people could open your snap and then indefinitely unless they closed it.
Number of users
There’s a graph of the number of daily active Snapchat users and these are in millions. So back in 2014 it was 40 6000000 ask for it all the way to today where you know it hasn’t been dabbling in gross or anything like that but it’s consistently been growing for the most part.
And now it’s up to 200000000 daily active users. So still quite substantial and there’s been a lot of controversy about Snapchat and what it’s worth. You can see its stock price. Here is pretty volatile and I would say that’s mostly because of Instagram. You know stealing a huge part of their business by integrating stories directly into the Instagram app.
But you know Snapchat has a lot of things that Instagram doesn’t. So you know we’ll see where this goes. It looks like it’s almost back to where it started on it with its initial spikes because you can see here that it opened at $15. Which would be somewhere around here but immediately after opened it spiked up to almost $30 and so you can see that you know it’s getting back up there over time maybe we’ll see.
Wrapping Up
So that is the stock price and this is Evan Spiegel, the original business person founder of Snapchat. He didn’t have the original idea but you know he made it work, which is probably honestly the hardest thing to do about any of this. So congrats to him and his success thanks for reading.
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