1. Snapchat made its founder the youngest billionaire in the world
What is more effective than building a new type of social media outlet and becoming rich for the rest of your life? Evan Spiegel successfully did this. At the age of 24 his net worth was 1.5 billion dollars. He was named the youngest billionaire in the world in 2014. Now he is currently the CEO of Snapchat and among the top 10 richest entrepreneurs of America.
2. Snapchat: behind the accidents
Uber driver Maynard Wentworth filed a lawsuit against Snapchat after his terrible accident. It was a September night, when an 18 year old girl driving in her father’s white Mercedes hit his vehicle. The whole reason behind this accident was speed filter of snapchat. McGee was recording the speed at 107 mph while she nearly killed the Uber driver. He suffered a traumatic injury and was hospitalized for months. Now he and his wife sued against McGee and Snapchat. McGee posted her injury snap (lucky to be alive) on snapchat after the accident. Several other similar accident happened but Snapchat decided not remove this filter.
3. Snapchat refused a 3 billion dollar offer from Facebook
Facebook CEO Mark Zuckerberg first flew out to meet Spiegel in his hometown at the end of 2012 and proceeded to try scaring Snapchat’s founders by telling them that Facebook planned to release a nearly identical app a few days later. “It was basically like, ‘We’re going to crush you,'” Spiegel told that app was Facebook Poke, which proved to be a flop later on.
Zuckerberg paid another visit to the young company the following fall to make his 3 billion dollar bid to buy it. It was Facebook highest bid for purchasing another app. Instagram was sold at 1 billion dollars. But snapchat refused this mind-blowing offer. They believed snapchat had more potential for the future, and they were right.
4. When Snapchat launched its new redesign
It had been been a rough morning for Snap Inc.—the maker of the Snapchat social media app—and perhaps an even worse morning for Evan Spiegel. Snapchats new redesign caused its stock to plummet more than 20%. The platform also saw a decline in its new users. The redesign was supposed to attract new snapchatters, but it’s actually made the app harder to use. Spiegel wanted to separate close friends from celebrities and pro creators to avoid drowning out that people know personally. Spiegel net worth drowned from $3.2 billion down to $2.5 billion. Previously more than 1 million people a signed a petition to reverse the latest redesign.
5. Snapchat takes half of all photos taken daily worldwide
According to Statista about 3.5 billion snaps are taken daily on snapchat. It is one half of the photos taken daily worldwide. In 2016 its daily number of snaps are 2.5 billion but at the end 2017 it reaches up to 3.5 billion. It is estimated that in 2019 Snapchat will takes 4.9 billion snaps each day.
6. What’s up with the ghost logo?
Reggie Brown made the app mascot logo known as “Ghostface Chillah” which is derived from Ghostface Killah of the hip hop group Wu-Tang Clan. He also came up with the idea for snaps to disappear after a short period of time. Spiegel admitted this during his April 2013 deposition. Snapchat’s Ghostface Chillah Mascot is Now Available to purchase on Amazon.com
7. Why a Shark Tank star did not invest in Snapchat
On a TV interview, Chris Sacca (Shark Tank’s star) told he has (“anti-portfolio”) companies list that he wished he had invested in but did not. Snapchat was second in his list. He described his mistake in words: “The Snapchat guys came up to me after a talk once, and I said I’m really flattered but the pics of your junk… really? So I passed. Later I told my business partner, who is ten years younger than I am and he lost his mind. (He said) ‘Do you realize what Snapchat is?’ That probably cost me a billion dollars or two.” If he had invested in snapchat he would be the beneficiary of $10 billion worth of snapchat.
8. How snapchat came into existence?
At Stanford University, Reggie Brown was in conversation. They were discussing about girls. A dreamy expression appeared on Reggie’s face when he said:” I wish I could send them disappearing photos.’’ Suddenly, he jumped up, and rushed down the hall to see if Evan Spiegel was around. “That’s a million-dollar idea!” Evan finally exclaimed. The two friends excitedly discussed all of the celebrities whose nude photos had been leaked to the press. Their app would solve this problem. But both of them did not know coding. They describe the idea to bobby third cofounder who did coding for it. They finished a working prototype of Picaboo just days before their final exams.
9. Reggie Brown sued for his ownership
On May 8, 2012, Reggie Brown sent an email to Evan Spiegel during their senior year at Stanford in which he offered to re-negotiate his equitable share regarding ownership of the company. Lawyers for Snapchat responded by insisting that he had never had any creative connection to the product. The attorneys also accused Brown of committing fraud against Spiegel and Murphy by falsely claiming to be a product inventor. On behalf of their clients, the law firm concluded that Reggie Brown had made no contributions of value or worth, and was therefore entitled to a share of nothing. In September 2014, Brown settled with Spiegel and Murphy for $157.5 million and was credited as one of the original authors of Snapchat.
10. Snapchat first name was Picaboo
Snapchat was at first created as a sexting media app for Apple users. The whole idea came into existence on social media after a conversation of the founders about a girl, where Reggie Brown said: “I wish I could send her disappearing photos.“ They launched the first version with the name Picaboo. It was created to send nude snaps for a short time. When the magnitude of its fame reached another company with same name Picaboo, the latter claimed their copyrights. Then it was relaunched with the currently popular name Snapchat.