Snapchat have decided to sell their shares on the stock market. This move is planned to generate $3,000,000,000 for the company which some researchers say is at its peak value. Obviously selling stocks when the company is worth the most is the best plan of action and is a “buy-out” for the owners of the Snapchat who must not be planning to grow anymore than they currently have.
The rapidly growing mobile application boasts almost 160 million daily users and allows its users to send pictures (predominantly “selfies”) to their friends. Snapchat was originally created with the ideas of these images disappearing after a few seconds but has changed over time. The application now allows for text chats which allow for images to stay until the user closes the chat and several other new ideas. The company is credited for popularizing certain image filters such as rainbows coming from people’s mouths and face swaps. These types of filters are commonly used by celebrities and sometimes uploaded to rival applications such as Instagram.
With Snapchat now selling their stock, this could lead to a decline in updates for the application and possibly lead it on a downward slope. Only time will tell what is in store for this application and the founders.
One of the most important aspects of Snapchat is that you can see into the lives of some of your friends and family, or even celebrities. Before to send a photo one must take it and attach it to an email or attach it to a text message, but snapchat came and made it easy to do so with just two taps. The most underlying basic feature about the app is simply sending a photo which will only last for a couple seconds and after will delete itself.
Often when friends are out on vacation they post their photos at the end of the trip to a service such as Facebook, however snapchat enables the user to see something the moment it is happening. Often times a person on snapchat sends candid photos to a small group of friends through the basic snapchat function. A person who wants photos to be more public can use the “stories” feature which allows any user who is friends with the sender to see those photos for 24 hours instead of only a select few people for a couple seconds only once. The name of the feature “stories” exactly describes the main function of the feature, to provide an easy-to-view function to view the story of someone’s day.
One of the main uses of this feature being a vacation allows many users to share their snaps as well as look into the stories of other users. To see into someone else’s vacation instantly through the stories feature is much preferable to waiting until the end of someone’s vacation and waiting for them to upload the photos to somewhere else. A snapchat user might want to view these photos right away so that they can see what is happening in the moment.
When on vacation or at an event, opening up snapchat is effortless and provides a very easy way to share moments. Viewing events is now much easier, as video or photo moments are skipped through every couple seconds when viewing multiple “stories” or “snapchats”.
Celebrities are using this function as well to provide an easy way for their fans to look into their lives. A fan of a celebrity can simply open up snapchat at the end of the day and have a slideshow of the day of the celebrity using the “stories” feature. One would want to use this feature as a way of looking into the personal lives of celebrities without waiting for an edited video on Youtube, as snapchat makes it very easy to share moments.
If someone moves away from their friends, opening up snapchat is one of the easiest ways to communicate with them and see how their lives are through video and photo. Snapchat also has a chat feature where images can also be embedded to make communication using text, image, and video work very well together and is often easier to use then dedicated messaging apps and is free to use unlike text messaging, especially internationally.
Snapchat is a very revolutionary service which revolutionized the way people send images to each other. Making it as easy as two clicks it is no surprise that millions are using this service. Snapchat aims to provide a sense of a self-destructing message which only the sender and the receiver can see, but in fact these photos are stored on Snapchat server for a long period of time. When users receive a photo they would like to save for themselves, they must screenshot the image, notifying the sender that the image has been screenshotted. Many users have also created services that attempt to hide that the photo has been screenshotted so that the sender never knows. This is one of the large controversies over the snapchat service as many users send photos with the intent of them being only available for a few seconds and disappearing after, but due to screenshotting these images are never truly destroyed.
Snapchat had developed a new feature on top of the main network in which a “Story” is created which for 24 hours any user who is “friends” with them on the application can view the image for as many times as they like. This is an often-used feature when users go on vacation as they can instantly broadcast and create a timeline of their vacation where their friends can see it for the 24 hours. The aim of the “story” feature is to provide a more public use for the app and since then Snapchat has taken the “story” feature much further. Now there are event-based stories where you can choose to add your image to a shared story where any user on the app in the area can view it. For example, a football stadium can choose to add a community story for the game and any fan can add their own image to the story, with moderation of course.
Snapchat recently chose to add many monetization features of the app for long-term revenue. They chose to implement ads in-between stories for all users to develop a stream of ad-revenue. Snapchat created a method for news organizations and magazines to purchase a slot on the stories page, so that they can publish their own news in the snapchat app itself. The news stories are more image based than a regular news article which fits very well within the app and is very easily-navigable on a small phone screen. Recently the company decided to go public on the stock market and there has been a lot of price volatility as many investors believe that due to snapchat only receiving revenue through advertising, they do not sell any real project and thus the investment decision would be poor. Snapchat has become a very successful social network along the years and these days it would be rare to find a young adult with a smartphone who does not own snapchat. With the ongoing debate about snapchat, the future of the application will be interesting to follow.