Snapchat is a mobile application which allows customers to send “ephemeral picture” to their friends. The market segment is mainly youth. Snapchat became so successful in less than 4 years. Snapchat has currently 200 million of users and 100 million use it daily.
Two years after refusing the 3 millions dollars Facebook’s offer, Evan Spiegel, the co-founder of Snapchat, announced last week that the firm wants to go public. “An IPO is very important” affirmed Evan Spiegel during the Code Conference in California. He didn’t precise in which market place and when it will happened.
Snapchat is part of the biggest market capitalization companies with Uber, Xiaomi, Airbnb and Pinterest. The firm is valued between 15 and 19 billion dollars. It’s quite impressive. To pursue its expansion, the company recently developed a new service which is called Discover. This feature propose an information platform which is in partnership with Vice, CNN and Cosmopolitan.
In march, Alibaba announced that they will invest $200 million in Snapchat. This has increased the valorization of the firm.