This past June, Snapchat hit the social media scene by storm. In fact, the innovative photo capturing application captured two hundred users by the end of the first month, and just three months later, clocked in at over two hundred million monthly users. A phenomenal feat considering how long its industry competitors have taken to create a user base half of Snapchat’s size. As UBC Sauder School of Business professor, Paul Cubbon, indicated how “ideas are cheap,” in can be noted that the process in which the idea is applied is priceless. With this in mind, Snapchat grasped this concept and designed a social media application that leaves little room for any digital footprint. For the most part, Snapchat’s boom can be widely credited to the growing number of adolescents wanting a social media outlet unmonitored by parents or teachers.
Although Snapchat’s 23-year old founder, Evan Spiegel, rejected Facebook’s three billion dollar offer to buy out Snapchat, it will be interesting to see if Snapchat will innovate and grow from its current success. More importantly, it is crucial to mention that Snapchat has zero dollars in revenue, so is Snapchat’s decision to decline a three billion dollar takeover its downfall?
Article: http://www.huffingtonpost.com/2013/11/13/facebook-snapchat-3-billion_n_4268859.html