Over the years, thousands of students residing in the dorms of Stanford University planned something creative but, not all of them evolved into a billion-dollar company. Snapchat, initially known as Picaboo was founded by Evan Spiegel, Bobby Murphy, and Reggie Brown.
The three co-founders worked day and night to build an app through which people could share snaps that would disappear after some time. The app was officially rolled out in 2011 as Picaboo and the name was changed to Snapchat a year later in 2012.
By the end of 2012, it was already clear that the app was about to get some incredible boom. In 2013, the company was financed by a massive Series A $13.5 million which became the most prominent reason for its growth.
One of the biggest strengths that Snapchat has had since the years is its innovative approach for the design layout. The company kept on updating its layout by integrating useful features for the users. Currently, most of the features that you see on other social media giant platforms were originated from Snapchat.
For example, the disappearing stories on Instagram and Facebook were inspired by Snapchat. Moreover, Instagram also rolled out the feature of disappearing snaps in Direct Messages. The filters that millions of people first used on Snapchat were brought to other social media platforms as well.
Facebook offered a hefty amount to purchase Snapchat but got rejected twice. Snapchat has also seen some bumpy times when the user base was declining. In early 2018, the company started seeing a decline in usage and new downloads. Moreover, the tweet of Kylie Jenner regarding the low usage of Snapchat because of its poor interface wiped out more than a billion dollars from the company’s stock.
But, the company kept fighting, worked on the interface, and started attracting the users once again. Currently, the platform has around 250 million daily active users.
Infographic by: Visualcapitalist.com