Snapchat is an extremely popular photo messaging app for iOS and Android devices. Users can take pictures, record videos, adding drawing and texts to the image and send them to a controlled recipients list. The photos and videos are referred to as ‘snaps’ and appear on the recipients screen for a number of seconds before disappearing forever. You can set a time limit for how long the recipient can view your snap, of up to 10 seconds and it is estimated that the app is delivering over 350 million photos each day! Snapchat has recently developed ‘Snapchat Stories’ which allows users to link their videos and photos together, where they exist for 24 hours only.
Snapchat turn down Facebook’s $3 billion offer
The 2 year old social media business has turned down a $3 billion offer from Facebook, despite not making any income from the business. This app was started by a 23 year old, who has turned down the offer due to possible offers from other investors and potential buyers. The owners have suggested that the user count is set to take a massive increase, particularly after there was a 150 million daily message increase from June to October. Snapchat is following in the footsteps of other tech start-ups that have snubbed multimillion dollar offers. Groupon turned down Google’s $6 billion offer in 2010 and Facebook and Twitter have also turned down similar offers.
In 2012, Facebook reportedly put in an offer of $1 billion but raised to £3 billion which would have been Facebook’s largest acquisition to date. However, Snapchat is expected to receive more investment and buyout offers due to its huge popularity in the App market.
How can Snapchat provide an income?
There is question as to how Snapchat will be able to provide income for its owners and founders, and some suggestions include, creating content through images, videos or through a story. This way, the campaign is more likely to go viral and be seen by millions of people around the world. Although, there is a chance that Snapchat might lose out to competitors as some believe that Snapchat will become one of many similar services for the smartphone.
What do you think?
It is hard to say how long Snapchat’s future will be, especially with the growing smartphone demand and the growing competitor markets. It is hard to decipher whether there will be a market for this type of instant messaging in the future, or whether it will grow into something bigger and better. With the development of Snapkidz, which allows users under the age of 13 to take photos and draw pictures, but doesn’t allow them to send the snaps to other users. This could be one step in the right direction for Snapchat, targeting the next generation of smartphone users could be the leading factor in expanding this instant messaging company. But we will just have to wait and see how things pan out for them in the near future!