15 July 2016

Shapchat: Hottest Social Network for US Teens, Adult Users Increasing

Shapchat Sees Increase In Adult Users:

Kwame Opam, The Verge news editor, discusses "what's cool" among teens, and whether older people getting on Snapchat will ruin the app's popularity. Published July 6, 2016

Domain: snapchat.com

Funding & Valuation:
Snapchat raised $485,000 in its seed round and an undisclosed amount of bridge funding from Lightspeed Ventures. By February 2013, Snapchat confirmed a $13.5 million Series A funding round led by Benchmark Capital, which valued the company at between $60 million and $70 million. In June 2013, Snapchat raised $60 million in a funding round led by venture-capital firm Institutional Venture Partners. By mid-July 2013, a media report valued the company at $860 million. On November 14, 2013, The Wall Street Journal reported that Facebook offered to acquire Snapchat for $3 billion, but the cash offer was declined. Tech writer Om Malik claimed on November 15, 2013, Google offered $4 billion, but the offer was declined. December 11, 2013, Snapchat confirmed $50 million in Series C funding from Coatue Management. Four more funding rounds, from December 2014 to March 2016, amounted to approximately $1.2 billion and totaled funding at $1.36 billion. Beyond 2014, the company had achieved a valuation of $10–$20 billion, depending on the source. Reports in 2016 suggested funding at about $3 billion, and a target of a billion dollars in annual revenues. [Wikipedia]

Data on US smartphone owners using Snapchat, April 2013 vs April 2016:Infographic: Beware Snapchat Users: Your Parents Are Coming | StatistaInfographic: Snapchat Is the Hottest Social Network Among U.S. Teens | Statista
source: Statista

Snapchat has mainly be known as a messaging app used by teenagers and college kids but older adults are now increasingly using the app. According to comScore.com, the percentage of 25- to 34-year-old smartphone users in the United States who use Snapchat has risen from 5 percent three years ago to 38 percent in April 2016.


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