Sunday, February 10, 2013

Snapchat Application Get US$13 Million by Venture Capitalists

SnapChat Logo

Tampa, Fl --- For those who are not familiar with the application world Snapchat is a little application inspired in the idea of Mission Impossible and Inspector Gadget where the user can send videos and photos to a controlled recipients group and let the document body be self-destroyed after a certain amount of time.
The application was developed by Stanford University students Daniel Smith, David Kravitz, Bobby Murphy and Evan Spiegel on September 2011. The social media app have seems to have prompted Facebook's competing Poke application, has raised US$13.5 million in venture funding.
According to the New York Times, the investment for the application was led by Benchmark which values the Inc. at US$60 million to US$70 million. The application itself has some pros and cons, the cons are that it will create an un-attached psyche to any virtual acts and consequences where there are no worries about any long terms of leaving something negative floating around the web; pro's regard the use of the application come with the juxtaposition of the negative one which confidential material within a corporation can be send for an specific amount of time without compromising privacy.
Venture capitalist are with their eyes wide open for the next Facebook or Instagram due ever volatile demographics among the younger generations because they hold the key to what will become the next "big thing" as Facebook had become stale for a demographic of young adults. The application is sitting at the 22nd spot of the Apple's App Store only 3 places away from Instagram and 7 places above Facebook Messenger. According to the New York Times report, there are around 60 million photos and messages sent per day on Snapchat and according to the Nielsen statistics, the application grabbed 3.4 million users in December doubling the average in one month period at the end of 2012.