Who on earth would have thought that an application that lets you send auto-deletig pictures would one day be worth more than $10 Billion? It’s not like you’re sending pictures of the nuclear launch codes of American Submarines or a screenshot of Coco-Cola’s secret recipe? Its literally an app that sends pictures.
Snapchat is really an example of how social media are redefining how things are done over the internet. It’s not about the product or how good it looks, it just boils down to the social network it helps create and the experience it lets users have. See, what makes Snapchat what it is today is not the app in itself, but the community using it, and boy is that valuable!
Yet again, Snapchat is making world-wide news after its last valuation went public, setting it at a net worth of around $10 billion. That’s three times what Facebook offered Evan Spiegel to let his baby go. And you know what’s funny about this whole story? Evan Spiegel still lives with his parents.
Picture Credit: We Heart It