September 11, 2013
Snapchat CEO Evan Spiegel recently announced that the company’s messaging app is processing more than 350 million snaps a day, which is an increase from 200 million in June. The popularity of the app stems from the fact that one can send pictures that are instantly deleted after being opened. Facebook’s Poke app may have been a potential threat to Snapchat, but while the Poke app has lost popularity, Snapchat is number 12 among Apple’s free apps.
“At the TechCrunch Disrupt conference in San Francisco on Monday, Spiegel wasn’t shy about boasting Snapchat’s resilience in the face of an attempt from the social media giant (Facebook) to enter its territory,” reports The Wall Street Journal.
“It’s certainly scary when a giant enters your space,” he said. “We now talk about it as the greatest Christmas present we ever got.”
While Snapchat has yet to receive an acquisition offer from Facebook, the two companies have talked several times.
“Snapchat in June raised $60 million in financing, led by Institutional Venture Partners. General Catalyst, Benchmark, Lightspeed Venture Partners, and SV Angel also participated in the round,” explains WSJ.
Snapchat hopes to raise more revenue before it seeks more financing. Also, the company might avoid big brand names for advertising, and target support for those without a strong marketing team instead.
While Snapchat has released the Snapchat micro for Samsung Galaxy smartwatches, the company does not plan on tailoring its app for Google Glass. According to Spiegel, Glass does not fit well with Snapchat’s vision.
“It may just be our team’s feelings about that product. I think the glasses tend to feel a little bit more invasive,” he said.
“I don’t think that acknowledges the experience of all the people standing around the person wearing the glasses because you kind of feel like you have a gun pointed at you and that doesn’t fit into the Snapchat experience.”