Snapchat appeared in the digital world in 2011. The popular messaging app was created by a group of students from Stanford University and, in its beginnings, was called Picaboo. With more than 10 years of history, it has experienced successes and crises, such as the time Kylie Jenner made him lose more than US $ 1,000 million by stating that he no longer used this red social. In this sense, we tell you what the current situation of the remembered application is.
The project was born with the idea of creating an app that allows users to send expired messages. Thus, the texts or images that are shared disappear after being viewed. At that time, Facebook did not have a similar service, which meant a different proposal before the internet giant created by Marck Zuckerberg.
What happened to Snapchat, the social network that Kylie Jenner made him lose US $ 1,300 million?
In 2018, Snapchat It went from being one of the most used social networks worldwide to being on the verge of bankruptcy. Kylie Jenner’s announcement that she no longer used the app and the massive loss of users in 2017 led to a financial crisis for the company.
In this context, Snap Inc., the company that developed the app, decided to launch the Spectacles augmented reality glasses. The purpose of this tool is to transform the experience in the app. Although initially it was not widely accepted due to its high price, the company managed to turn this idea around by creating Lens Studio, which is used by people to design personal augmented reality experiences to later enjoy the experience. using Snapchat glasses.
This initiative, along with other exciting new features, has helped Snapchat regain its prominence at the international level. For example, as of March 2022, the shares of Snap Inc. grew by 450%, according to the media La Tercera.
In addition, it has increased the number of active people in the app by 20%, according to the aforementioned media. Currently, these people use Snapchat for various purposes and not just to send messages or images with a certain expiration time.
History and crisis of Snapchat
The origin of Snapchat is related to the businessman Evan Spiegel, who designed the popular application when he was a student at Stanford University, United States. In his early college years, he met Bobby Murphy and Reggie Brown. All three shared the same interest in computing.
It was so, in 2011, they decided to launch Snapchat. Initially, the application was called Picaboo. This first project did not turn out as expected, so in September 2011 they decide to change the name to Snapchat.
The proposal of the application was, from the beginning, that people can send images or photographs with an expiration time. Thus, Snapchat positioned itself in 2014 as one of the most popular social networks in the world.
However, in 2017, Snapchat faced a crisis, as several of its users moved to other social networks. Thus, in the third quarter of that year, the application collected nearly US$ 208 million. That is, US$28 million less than expected, according to La Tercera. For this reason, it had to reduce advertising prices by 60%, which in turn triggered losses of at least US$443 million, according to data from the aforementioned medium.
The time Kylie Jenner lost Snapchat over $1 billion
Added to this, in February 2018, Kylie Jenner announced that he was no longer using Snapchat through his Twitter account. This publication by the model, who was an active character in the app, caused more than 3 million users to leave the social network. This situation generated the loss of US$ 1.3 billion dollars by the company.