What made Snapchat so big to be worth 3 billion
Facebook fails to buy SnapChat for 3,000 million. The fast growth of snapchat is due to youthful audience and the automatic deletion feature in seconds attracts the first social network with a 3 billion offer and millions of dedicated teens.
Three billion are not enough. The giant Facebook has not been able to buy a dwarf called Snapchat , a youth social network that makes photos and videos disappear 10 seconds after sending.
The price offered to SnapChat by Facebook , which has been reported in The Wall Street Journal- is much higher and it is not dependent on income or financial assessment but is mainly based on the age of its users. Facebook is losing young teens and needs something desperately to get them back. This is the same reason facebook bought Instagram.
Snapchat , created by young Bobby Murphy ( 24) and Even Spiegel (22 years) two years ago at Stanford University , has 5 million daily users sending 350 million messages, according to data from this network. In December , users were three million and 60 million photos are sent.
A few months ago , the network got a funding of 65 million dollars ( 48 million euros) and the company was valued at $ 850 million ( 595 million euros).
In these two years , Snapchat has added features like video and , in October, its Story function, where images remain valid for 24 hours before being deleted.
Although SnapChat is often criticized because their system is mainly used to send racy photos , by their nature self-destruct in seconds, its founders hope that the value of the company continues to grow in users and messages.
"You can not create a business based on sexting " , Spiegel stated a few months ago in The New York Times, using the term for sending racy images through text chat . " It is a specific case. But this is much more. "
The Facebook deal is the largest in its history. So far the record was the acquisition of Instagram, for which they paid one billion dollars ( 765 million euros). The application of photographic filters had 30 million users and why, then , only served to the iPhone.
Facebook will do what it takes to keep the tag of the worlds largest social network and is buying it’s second purchase in billions to keep the teens. Teens and self destruct message is what made snapchat big but Is Snapchat worth the 3 billion tag?
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