In Less Than 2 Years, This Startup Is Worth $1 Billion (And With No Revenue)

Must Read

23 Consecutive Quarters of Losses Amounting To $4.5 Billion Led LG To Exit Mobile Phone Market Worldwide

When the going gets tough, the tough get going. But that doesn't seem to fit in the case of...

Can CBD Gummies Be Beneficial For College Students?

College students often feel more pressure than they have ever—or will ever—feel in their entire lives. Many students are...

Reliance Jio Buying Spectrum From Rival Bharati Airtel Is A Win-Win Deal

In what can only be called an unlikely deal between two rivals, Reliance Jio will be acquiring some spectrum...

When I first heard about this startup, I immediately got caught into a thought-process ‘Aah another copy-cat of Instagram’…but then after a year I have no shame to admit that I was wrong. However, this also made me to learn that if your startup is able to catch the eyeballs of sizable number of internet users, your web-based startup would fly high, no matter from when, what and how influenced is your startup and from whom.

A U.S. based Startup SnapChat – another photo-sharing mobile app – allows mobile Internet users to share snaps with their friends and family but to disappear automatically after 10 seconds. The popular photo-sharing app recently managed to grab round B funding of $60 million with a valuation of $860 million led by Institutional Venture Partners, with participation from General Catalyst, Benchmark, Lightspeed Ventures and SV Angel. Interestingly, the startup is yet to grab its first dollar as revenue and with such valuation it clearly resembles Instagram – another mobile photo sharing app acquired by Facebook for $1 billion last year.

SnapChat Mobile Photo Sharing App Startup

The growth of SnapChat has been outstanding in last 6 months. With 50 million photos sent by users each day in December 2012 to 200 million now, a four folds growth in just 6 month is enough to explain how users are reacting towards the ‘twisted’ mobile photo-sharing app.

Advertisements

Evan Spiegel, the company’s 23 years old CEO, believes that its time to focus on traffic monetization. However, he doesn’t seem much excited and convinced with advertisement revenue and rather would vouch for in-app purchase as adopted by Chinese mobile messaging apps like WeChat and QQ.

Though, Spiegel doesn’t think that acquisition would be a good idea like Instagram by Facebook, but he is open to explore opportunities coming from all sides.

SnapChat was founded in September 2011 and with such astounding growth record in short span of time, the photo-sharing app could challenge Facebook in mobile space. And, after such a whopping valuation, startup could unfold many more promising strategies lead to enormous success in future.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

These Entrepreneurs Built Their Fortune Only After Investors Rejected Them, Again and Again

Believe in yourself is the most underestimated quotation of all times. As a startup owner, although, this might just...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded and unparalleled...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter, with a...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one of the...

More Articles Like This