Snapchat has become a favorite of our generation. The app has seen its ups and downs, but it’s become a must-have for many of us. Learning more about the app can help you decide whether or not it’s right for you, but here are 15 shocking facts that might make you reconsider using it.
First off, Snapchat was the brainchild of two Stanford students in 2011-2012. It was called Picaboo during development and is now known as just Snapchat — not to be confused with Shazam! Despite what most people think, Snap Inc. The magic show snapchat is fake.
15 Shocking facts about Snapchat are:
1. Its two co-founders were fraternity brothers.
Evan Spiegel and Bobby Murphy took a year off after graduating from Stanford in 2012 and launched Snapchat in the fall of 2011. They first called it Picaboo, but changed the name to Snapchat to avoid trademark issues with another app named Picaboo.
2. It’s used more by women than men.
App analytics firm Sensor Tower found that when it comes to daily active users, women are far more engaged than men. Over 50% of users are women
3. Its growth has been mind-boggling.
In October 2013, TechCrunch reported that the app had over 100 million photo messages sent per day worldwide
4. Snapchat wasn’t just a fad — it stayed around long after it became popular.
In 2014, Snapchat had over 150 million daily active users worldwide. That’s more than Instagram and Twitter
5. It ran out of money before raising a $3 billion round of funding in 2013.
Snapchat reportedly raised $3 billion from venture capitalists such as Benchmark Capital, Lightspeed Venture Partners, and Greylock Partners in early 2013, but was only able to spend between $500 million and $600 million before running out of funds completely in 2014
6. Snapchat is one of the most popular social media apps among teenagers worldwide.
According to research from the Pew Research Center, Snapchat is the third most popular social media app among teens (behind Facebook and Instagram), though it is not yet as common among adults.
7. Snapchat’s founders took a pay cut in the wake of its huge funding round.
Evan Spiegel, 23, and Bobby Murphy, 23, received $3 million each before taking a pay cut to $1 in 2014. At that time, Spiegel also stepped down as CEO of Snapchat to become CTO while Murphy stayed on as CMO
8. Its revenue has been a major point of contention over the years.
A recently published report by Bloomberg found that Snapchat is losing $2 billion per year . Facebook CEO Mark Zuckerberg openly criticized Snapchat’s growth for struggling to monetize its user base.
9. Snap Inc. is the plucky app that beat Facebook to IPO .
Snap Inc., the company behind Snapchat, made a huge splash when it went public in March 2017 with a market cap of $3.8 billion
10. It’s working on a virtual reality camera called Spectacles .
The startup announced in September 2016 that it was going for a $129 pair of sunglasses that work as both sunglasses and cameras — kinda like what Google products do — and have released an official video featuring their first prototypes in action
11. Snapchat has lost over 4 million users since 2014 in the U.S..
Snapchat lost 4 million users in the U.S. alone from 2014 to 2017 according to a report by Sully and Business Insider
12. It has made mistakes that left us scratching our heads.
Snapchat has been criticized for removing some ads that users asked to keep on the app’s platform, as well as removing Geofilters, which offered businesses or brands paid promotion through Snapchat filters
13. Its creator is notoriously private, but also a workaholic .
Evan Spiegel and his former college classmate Bobby Murphy are known for their secretive nature (though their exact personalities aren’t hidden — they’re just not known for being friendly!). Spiegel used to be a Stanford student who spent all of his free time working on the app for six months before he and Murphy launched it officially in September 2012
14. It’s worth $1 billion — more than Snapchat’s founders.
Snap Inc. is now valued at $22.5 billion, which is 30 times more than the original company’s startup value of $404 million in July 2013, according to Bloomberg . By comparison, Snap’s co-founders Evan Spiegel and Bobby Murphy are worth about $4 billion each, making them the world’s most valuable Snapchat executives
15. Its videos disappear after 24 hours .
Posted photos and videos will disappear in seconds, but users can take screenshots at the risk of having the image shared back to their own story.
Snapchat’s most recent update has been reported to cause serious battery drain issues with iOS devices. If you are experiencing these problems, Apple recommends downloading their latest iOS update , which was released on March 29th. For Android users, Snapchat has stated that they have no current plans to roll out a similar update as of April 3rd.
With all the controversy that Snapchat has faced over the past few years, it is clear that the company has had its share of slip-ups. But users continue to flock to the app in droves (or swarms, as the case may be) because of its unique features. If you haven’t yet tried Snapchat, it might be time for a change.
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