Snapchat is undoubtedly successful as earlier this week they turned down a multi-billion dollar offer to be bought out. The app was designed by some undergraduates for their mechanical-engineering class. The app is increasingly popular and the company was estimated to be worth over $4 billion. The worry is that teenagers (which are the biggest market for snap chat) are very “fickle” and this app won’t be as popular forever. As Facebook was once called the best social media website but is no longer. Twitter and Instagram have replaced its popularity. Apps are also in such a large supply that the app could quickly be abandoned if something better comes around.
This fear of the popular snap chat fading from the mainstream is very valid as apps and social media technology is being revolutionized so fast an so frequently it is even hard for the leaders to keep up. However as Keenan mentioned in his Blog, Snap chat has a very unique and creative business however it must continue its creative engineering, as it is currently threatening Facebook’s success.Their creative engineering will be paramount in their ability to handle the competitive market in the long run.
https://blogs.ubc.ca/keenanmanhas/
