Could The Future of Snapchat Be Big?
While images sent are only viewable for seconds before they're history, the social media company foresees a future that analysts deem long-lasting.
While some may question the long-term success of social media newbie, Snapchat, investment analysts see it in a different light-- a much brighter one.
Popular for the fact that photos are temporary, Snapchat is synonymous with safely risque business amongst users who trust that their photos will be seen for seconds and then vanish into nothingness. This sole feature is ever-popular for protecting their credibility and quite frankly, preventing situational issues such as that of Anthony Weiner's infamous, nationwide-known dirty photo text dilemma.
Comparable to Instagram and Youtube with the way this messaging app operates, it could be they next to sell for billions with the path it's currently paving.
With that being said, Snapchat actually has more funding and a higher value than both Instagram and YouTube when they were at the same stage of the startup process.
How impressive is that-- especially looking at where Instagram and YouTube are now as far as being successful.
Interestingly though, Snapchat isn't making any money right now. Like at all.
It has, though, raised nearly $60 million in funding from five groups just this past summer, bringing it to a value of $800 million. Instagram brought in $50 million at a similar stage, with a $500 million value prior to being bought by Facebook.
"Snapchat's growth as a mobile service is probably the most explosive we have ever seen," said Mitch Lasky, general partner of Benchmark and investor in Snapchat.