Snapchat is an American multimedia application popular for its image facility, which was brought to market by Evan Spiegel, Bobby Murphy, Reggie Brown, and some other former students at Stanford University. The app’s most exciting feature is that the images sent are usually available for a short span before becoming unreachable.
The app features- “Stories” a fantastic feature which lets users share pictures individually for a day with some exciting bonus such as-Discover, letting brand show ad-supported short time content, lot more. It also offers a password-protected feature, end to end encryption keeping in mind its users’ security.
Well, how well do you know about Snapchat? If not much, we have compiled all you need to know about Snapchat’s net worth in 2024, wiki and complete details. Well, if you’re all set, here is what we know about Snapchat to date.
Inception
Snapchat is an American multimedia messaging app which is developed by Snap Inc. This multimedia app was launched on 8th July 2011 in 37 different languages. The headquarters of the company is located in Venice, Los Angeles, and California. This app provides users to click some beautiful pictures with additional aesthetic filters and effects. Through this app, you can share your vision with person to person for a short period.
The app has high security and keeps your data safe and secured from any unnecessary things. Nine years ago, the Snapchat app was developed by Stanford University students and known for representing the first direction for social media and played a vital role in user’s interaction by providing them some animated virtual stickers. This app currently has almost 229 million daily users, and nearly 4 billion snaps are sent daily. This made this app grow widely across the world.
Evolution
According to some statements, the one who came up with the idea of picture application was Reggie Brown. He went to a former businessman Evan Spiegel with his vision, and later, they both approached Bobby Murphy, a coder. Three of them worked together for several months and released Snapchat as “Picaboo” on the operating system iOS on 8th July 2011. After few months of launch, Reggie Brown was ousted from the corporation.
Later in September 2011, the app was relaunched as Snapchat from Picaboo. The whole teams put more effort into the technical aspects rather than on branding aspects.
On 8th May 2012, Reggie Brown offered to re-negotiate his shares regarding the ownership of the corporation. The attorney accused Brown of falsely claiming himself to be an app inventor. In 2014 September, Reggie Brown settled with Murphy and Spiegel for almost US$157.5 million and was considered as one of the original inventors of the Snapchat application.
In 2012, Snapchat was capable of sending 25 images per second, and by the end of the year, almost one billion pictures have been shared by the users on Snapchat. On 29th October 2012, the popular multimedia app was released as an Android app.
In 2013, the 5.0 version of this app was released for iOS users and had several new features like speed and design enhancement, double-tap to reply, improvised friend finder, and swipe navigation. For users under 13, Snapchat introduced Snapkidz, and it only allows children to click pictures, not to share them publicly.
In 2015, these great app users sent almost 2 billion videos per day, which was rocketed up to 6 billion by the end of the year. In 2016, the appraised $1.81 billion. The users of this app have increased tremendously and helped the app to grow on a larger scale across the globe. In 2016, the app was renamed Snap Inc., which was done to coincide with the introduction of the first hardware product of the company that is spectacles, which has a feature of an inbuilt camera and can record videos of 10 seconds, and it became available online by 2017 February.
In 2019, it was announced that Snapchat was among the five most downloaded mobile app of the decade by App Annie. In 2020, it acquired an AI factory and computer vision startup to give the most boost to its video features. Snapchat also announced to pay $1 million a day to users who post viral videos.
Awards & Achievements
Snapchat is an outstanding mobile application that is highly popular and quite active ever since it was launched, which is a great accomplishment for an application to get accepted by many users. The app was honored with the- “Best Mobile App” in the Crunchies Awards in 2013, and Evan Spiegel collected it. The multimedia Snapchat application has been downloaded over 500 Million times till now.
Net Worth & Earnings of Snapchat in 2024
As of 2024, Snapchat has an appraised net worth of $5 billion. The app went civic on the New York Exchange in 2017 in the month of March. Mark Zuckerberg- the Facebook founder-offered to purchase Snapchat for $3 billion, which is undoubtedly a great deal, but the founders denied the offer. The application consists of 229 million active users as of 2019 and nearly 4 billion Snaps, which is undoubtedly adding to their prosperity. We can estimate the popularity of the app after the creator of Facebook tried to buy it.
Snapchat is a top-rated social media networking platform that successfully builds the connection between loved ones. The app is most popular among users of age under 16 years, raising many parents’ eyebrows and concern. This app has broken all glass ceilings with its unique filters and other frequently much-needed upgrades. The efforts made by the launchers and developers are highly commendable, and people are indeed expecting to watch “what new next.”
