Snapchat releases Snapchat Micro, an app for the Galaxy Gear smartwatch.
įacebook starts allowing people to send Instagrams with its Messenger product, a move that is widely seen as a competitive response to Snapchat. The documents demonstrate Brown's important early role while the product was being developed, and are intended to bolster the case that Brown is eligible for a 1/3 stake in the company. ĭocuments related to Reginald Brown's lawsuit against Snapchat are released. Other investors included General Catalyst Partners and SV Angel. The round is led by Institutional Venture Partners, and earlier investors Benchmark Capital and Lightspeed Ventures also invest.
SNAPPY MAPS SERIES
Snapchat raises a $80 million Series B ($60 million for the company and $20 million as a secondary offering) at a valuation of about $800 million. On the same day, a post on the Snapchat blog notes that the company is facing spam problems. Snapchat calls the lawsuit "devoid of merit." Īt the Dive into Mobile conference, Snapchat co-founder Evan Spiegel says that users now share 150 million images per day, or about 1700 per second. Brown claims that he originally came up with the idea behind Snapchat as well as its ghost logo, back when the product was still called Picaboo, but that Spiegel and Murphy changed passwords to shut him out of the servers. Snapchat is sued by Reginald Brown, a Stanford graduate student who used to be friends with Spiegel and Murphy.
SNAPPY MAPS ANDROID
Snapchat launches video sharing on its Android app after ten days of quiet beta testing. Snapchat users are now sending over 60 million snaps a day, or about 700 snaps a second. This is the same as the funding round rumored on December 12, 2012. Snapchat raises a $13.5 million Series A led by Benchmark Capital's Mitch Lasky, with a post-money valuation between $60 million and $70 million. It is widely viewed as a direct competitor to Snapchat. Social networking company Facebook launches Poke, an iOS app for sending expiring text, photos, and videos. Snapchat releases video sharing and begins prototyping monetization features. Funders appear to include Benchmark Capital, one of the funders of Instagram. Snapchat is reported to be raising north of $10 million at a $70 million valuation. For comparison, when Instagram had 10 million users it processed 25 photos a second. Snapchat says that users are sharing about 20 million images a day, or about 231 per second. Snapchat is processing about 25 images a second. Liew, Eggers' partner at the firm, pursues Snapchat and agrees to invest $485,000 in the company. Subsequently, Barry Eggers, a managing director at the venture capital firm Lightspeed Ventures, learns from his teenage daughter that the three most popular apps among her friends are Angry Birds, Instagram, and Snapchat. Īfter Spiegel and Bobby Murphy force Reggie Brown out of the company, they re-incorporate as Snapchat, and begin to acknowledge the idea as theirs alone, giving no recognition to Reggie Brown. Snapchat first launches from Evan Spiegel's father's living room under the name Picaboo, as an iOS-only app. Snapchat co-founder Reggie Brown creates the idea for an ephemeral messaging platform. The IPO occurs on Thursday, March 2, 2017. It also prepares for an initial public offering (IPO) in 2017. The company rebrands itself from "Snapchat Inc." to "Snap Inc." and unveils the Spectacles.
Note, however, that unlike Facebook, that counts a view only after at least three seconds on it (and YouTube, which follows a more restrictive definition), Snapchat counts a view as soon as the video start playing, making its numbers hard to compare with Facebook. Daily video views grow from 2 billion in May 2015 to 6 billion in November 2015 and 10 billion in April 2016. With the additional funds, Snapchat aggressively improves the product, with changes such as Chat 2.0, the introduction of stickers, and new monetization strategies. Since Snapchat raises money more continuously, it is hard to pinpoint a specific funding round, creating some confusion for reporting.
Snapchat raises large funding rounds (Series D: $485 million, Series E: at least $200 million but possibly up to $500 million, and Series F: $1.8 billion). Initial versions are launched and an initial userbase is obtained.Īggressive fundraising, focus on video, more product iterations Snapchat is conceived by Stanford graduate students.
SNAPPY MAPS SOFTWARE
The following is a timeline of the history of the photo messaging software Snapchat.
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