Snapchat, the once small photo sharing app now one of the most used social media platforms on the planet. Released in 2011 it was a simple concept, a photo sharing app that deletes the pictures after a limited amount of time. Snapchat now is much more than that, and they're parent company Snap announced, per Business Insider, that they'll be going public. Snap will be listed on NYSE and may value at $25 billion.
Starting as a class project created by Evan Spiegel (Snap Inc. CEO), Bobby Murphy, and Reggie Brown they turned it into a now multi-billion dollar company. Snapchat started as a picture sharing app where the photos vanished after a certain time limit, it evolved into video and chat, accompanied by filters and geotags, and has now blossomed into a full out social network.
According to Statista, as of June 2016, Snapchat had 150 million active daily users around the globe. One can assume that number has only grown since June of 2016, lets just guess 200 million users as of January 2017. Snapchat's users grow as the company grows, and the company has plenty of growling left to do.
Last year, Snap released Spectacles, which are camera glasses for Snapchat. These glasses have two camera's and are connected to your Snapchat account, what you see is what you post. Spectacles give you a glimpse as to where Snap wants to go next, being a camera company. Where can you get Spectacles? Snap will likely sell them all across the country, but for now they can only be found in California, Oklahoma, and New York. Spectacles have to be bought from a vending machine called a "Bot", and run for about $130.
Here's a quick video from Mashable on Spectacles:
The rate at which Snap is expanding, both as a company and in users, going public is a no-brainer. It also should make investors licking at their chops, because like stated above, at the rate this company is expanding, Snap has yet to peak. The better days lie ahead for Snap, and one could make the case they'll survive post IPO easier than they could argue against it.
Snapchat added "Discover" to their Snap Story section the Snapchat, where companies and Snapchat could post their own "stories" so people could "discover" them. This was brilliant both on Snapchat and the participating companies parts, because this opened the door to Snapchat for more users, money from the companies, and eventually advertising. Yes advertising, which really is the main reason why companies have a "discover" story on Snapchat. Not too long ago, Snapchat started running ads on not just "Discover" stories, but in between the Snapchat stories of your contacts; yes the golden ticket to revenue in the digital world, advertising.
Snapchat users, keep snapping and enjoying what Snap puts out. Snapchat just recently had an update which changed the user interface up a bit, and gives it a somewhat different theme, but still with the same Snaphchat feel to it. Snap even added a search function to Snapchat now and not just for contact searches, the search bar is literally on your camera screen.
Investors should be very excited and optimistic for this IPO. Snapchat has evolved significantly over the past 5 years and it's showing no sign of slowing up. Snapchat will only grow larger and could evolve into a much more complex social media platform than it is now. Spectacles will only grow in supply, be made more available, advertised, and increase in demand by the public. Snap will evolve into something much bigger than it is today, and back in February of 2015, Steve Tobak of Fox Business called it. Read that article.