Weekly Featured Company: Snapchat

FoundedHeadquartersSectorEmployeesRevenueTotal InvestmentRecent Investment
2011Pacific Palisades, CaliforniaMobile & Apps21$163m$50m
Is Snapchat the next Facebook?
Snapchat pioneered messaging with photos that automatically delete after being shared. Since its launch in 2011, the company quickly became one of the most popular photo messaging apps in the digital world, attracting millions of Facebook-averse millennials. According to sources, Snapchat boasts of more than 100 million monthly active users and 400 million Snapchat snaps per day. The company has become so big, so fast that it’s now considered a major threat to Facebook, who reportedly offered $3 billion in late 2013. Founded by Stanford University students Evan Spiegel, Bobby Murphy, and Reggie Brown, Snapchat is not without its own share of controversies. In 2013, Reggie Brown sued his co-founders after he was left out as an owner of the company. In the same year, Forbes reported that Snapchat photos do not really disappear and can still be retrieved with minimal technical knowledge. The company also figured in a hacking controversy when the usernames and personal phone numbers of millions of users have been stolen and posted online through a website entitled SnapchatDB. Despite the recent security breach, a lawsuit, and other PR issues, investors are still quite bullish about Snapchat. After all, the company is now valued at US$10 billion and users continue to flock to it.
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