Snap Inc. operates as a camera company in the US and internationally. The company offers Snapchat, which is a camera application that helps people to communicate through short videos and images. Snap, Inc. was formerly known as Snapchat, Inc., and was renamed Snap Inc. in September 2016. The company offers distributed mobile applications, especially camera platforms, and is engaged in offering innovative and differentiated mobile, communication, camera, content, and advertising products and solutions worldwide. The company is primarily focused on product development, advertising technology, and large-scale infrastructure.
Snap, Inc. registered 436 issued patents and has around 722 filed patent applications in the US and other countries till December 31, 2018. These patents are associated with camera platforms and other technologies. The flagship product of Snap, Inc. is “Snapchat”.
Snap, Inc. also provides Camera, which is a tool to personalize and add context to Snaps, and Snapchat is primarily used on mobile devices as a camera application.
Camera: A tool where Snapchat directly opens to Camera, and the company also offers a wide variety of creative camera tools for easy personalization and addition of context to created Snaps. Additionally, the company offers contextually-relevant content and creative tools based on aspects such as location, time, and objects.
Friends Page: Was the first version of the Snapchat application as a service, which allowed users to send Snaps back and forth and hence was named “Snapchat.” The friends page allows interacting, watching and creating stories, chatting with groups, making video and voice calls, and communicating through a variety of contextual stickers and Bitmojis.
Discover: Discover surfaces the most interesting stories and shows from multiple publishers, creators, and the community, based on a user’s interests and subscriptions.
Snap Map: Displays live map of the current location, popular stories, nearby friends, and a heatmap of recent Snaps posted.
Memories: Snapchat users are provided with save the Snaps options. The Snaps created by users can be saved in a searchable personal collection called memories, and allows users to create Stories and Snaps from saved Snaps as well as the camera roll.
Spectacles: Tool to create memories by using Spectacles which creates Snaps. Spectacles connect effortlessly with Snapchat and capture video from a human perspective
The daily active users increased to 210 Mn in Q3 2019 by 7 Mn net additional users. DAU were sequentially up on both Andriod and iOS platforms
In Q3 2019, the average revenue per user(ARPU) increased by 33% YoY to US$ 2.12. Considering region-wise, the North America ARPU increased by 43% to US$ 3.75 whereas the Europe and Rest of the world ARPU were increased by 24% and 21% respectively making it to US$ 1.05 in Europe and US$ 1.01 in rest of the world.
In the Q3 2019, the revenue increased by 50% YoY to 446 Mn USD
Quadrennium of 2012-2015
- In September 2011, Snapchat was launched in AppStore
- In July 2012, Snapchat registered 110 Mn total images shared
- In October 2012, Snapchat community shared over 1,000 Mn snaps and registered over 20 Mn unique moments shared daily. In addition, Snapchat was launched in Google Play store for Android devices running on v2.2 or higher.
- In December 2012, Snapchat had approximately 50 Mn snaps shared on a daily basis
- In February 2013, Snapchat launched Android community Snapchat Video for Android users globally
- In June 2013, a new iOS version was released in the App Store, and Snapchat registered over 200 Mn snaps shared daily
- In October 2013, Snapchat launched Snapchat Stories feature, in which Snapchat Stories add Snaps together to create a narrative video
- In December 2013, Find Friends feature was introduced, which allows users to upload address and contacts book to Snapchat
- In January 2014, Snapchat released an update for Android and iOS application users that improved Find Friends functionality and opt-out mandatory linking of phone number with username
- In May 2014, Snapchat launched a Chat feature and signed agreement with Federal Trade Commission (FTC). In June, Snapchat signed an agreement with Maryland Attorney General to strengthen strong commitment towards users’ privacy. The same month, snapchat introduced Our Story feature.
- In July 2014, Snapchat introduced Geofilters feature to the camera application
- In August 2014, Snapchat expanded its Our Story product to include live events
- In October 2014, Snapchat launched Our Campus Storyfeature and introduced advertising feature on snapchat
- In November 2014, Snapchat introduced Snapcash in partnership with Square Cash company
- In December 2014, Community Geofilters features were launched
- In January 2015, Snapchat introduced Discover functionality
- In May 2015, Snapchat launched Snapcodes as an easy way to add friends on Snapchat with an agenda to increase its daily user base
- In July 2015, Snapchat took a major step by introducing Tap to View feature in the camera application
- In November 2015, Snapchat launched Story Explorer on the New York and Los Angeles Live Stories platform
Golden Year 2016:
In 2016, Snapchat launched various products, features, version, and filters:
- In February, On-Demand Geofilters
- In March, Chat version 2.0
- In July, Memories and Bitmoji
- In August, Geostickers
- In September, Spectacles
- In October, Story Playlist
- In December, Snap-Groups feature, and Scissors and Paintbrush Creative Tools
Something in 2017:
- In April 2017, Snap, Inc. introduced New World Lenses feature in Lenses module for 3D experiences
- In May 2017, Snap, Inc. reorganized layout creative tools
- In May 2017, Snap, Inc. created Custom Stories
- In Jun 2017, Snap, Inc. introduced Snap Map
- In Sept 2017, Snap, Inc. expanded Publisher Stories module to include school newspapers
- In Oct 2017, Snap, Inc. launched Context Cards
- In November 2017, Snap, Inc. introduced New Snapchat: The new Snapchat separated the social from overall media pages.
- In December 2017, Snap, Inc. introduced Lens Studio
What happened in 2018:
Snap, Inc. launched and introduced various features and functionalities:
- In January, Bitmoji Deluxe
- In March, Explore on Snap Map and new kind of Camera
- In April, Group Video Chat, Snappables, and New Spectacles: Made especially for Summer
- In May, Yellow a Launchpad.
- In June, Snap Kit
- As of June, snaps shared per minute were 2.08Mn
- In July, Lens Explorer
- In September, new styles of Spectacles: Nico and Veronica, Visual Search and functionality that allowed registration to vote on Snapchat!
- As of September 2018, 3 billion Snaps were created every day
- 60% of Daily Active Users create Snaps every day to talk with their close friends and family
- In October, Snap Originals and Snap Camera
- In November, Friend’s Bitmoji which was linked to Friendship Profile
What’s Happening in 2019
- In Q2 2019, the average number of snaps created every day grew to 3.5 Bn
- Due to improvements in its Android application, the snapchatter are sending 7% more snaps and 10% more retention rate
- As of Q3 2019, the total time spend by snapchatters on the discover platform has increased by 40% YoY
- In Q3 2019, 100 discover channels reached a 10 Mn viewers monthly audience.
- In the second half of the year,Snap launched the next generation of AR Lenses that use deep neural networks to modify a person’s appearance in real-time and over 200 million Snapchatters played with the new Lenses in its first two weeks
- In Q2 of 2019, Snapchat launched Snap games, including 3 games that allow users to play as their Bitmoji.
- As of March 2019, Snapchat ads reached 75% of US audience of age group 13 – 34, which was more than Instagram
- In 60 seconds, 2.1 million snaps are taken in 2019
- Snap, In. is expected to launch its long-awaited Android redesign version
- Additionally, the company is more likely to focus on advertisers off the sidelines, which in turn is expected to drive revenue growth in 2019
- According to data published in January 2019, during a survey, it was observed that among the global active Snapchat users, 13% of users were female, between the ages of 18 and 20 years