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Snapchat is one of the most popular social media apps among young people, averaging 306 million daily users. Learn about Snap Inc.'s market value and net worth.
Snap Inc. is an American technology company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown based in Santa Monica, California.The company developed and maintains technological products and services, namely Snapchat, Spectacles, and Bitmoji.
Snapchat raises a $13.5 million Series A led by Benchmark Capital's Mitch Lasky, with a post-money valuation between $60 million and $70 million. [23] This is the same as the funding round rumored on December 12, 2012.
[21] [22] That same month, Spiegel cited problems with user base scalability as the reason that Snapchat was experiencing some difficulties delivering its images, known as "snaps", in real time. [21] Snapchat was released as an Android app on October 29, 2012. [21] In June 2013, Snapchat version 5.0, dubbed "Banquo", was released for iOS.
It told financial regulators earlier this year in a filing that it intends to sell 200 million class A shares, which will come without voting rights.
In March, the "Shark Tank" mogul told CNBC he wanted to assemble a syndicate of investors to purchase the platform for about $20 to $30 billion — a fraction of its $220 billion valuation in its ...
[8] [9] The app's popularity grew significantly and in 2012, Spiegel left Stanford to focus on Snapchat shortly before completing his degree. [1] [10] By the end of 2012, Spiegel's Snapchat app had reached 1 million daily active users. [8] He later completed his remaining credits and graduated in 2018. [11] [12]
Snapchat is a social media network that has been banned and/or otherwise restricted in various countries. Potential reasons for such bans include national security, user privacy, social control, protecting culture, reducing displays of behavior considered to be immoral, economic protectionism, protecting mental health (especially among youth), technological sovereignty, and regulatory compliance.