Snapchart Company is an image messaging, and media application company first launched in July 2011 as Pictaboo Inc and re-launched two months later under the name Snapchart. The general idea behind creating the Snapchart application was to introduce a selfie application that would allow users to easily share images that were initially short-lived and self-deleting. According to sources privy to the organization, the application evolved through various stages during its development stages (Walters 71). For instance, it incorporated both private and public content including publications, brand networks, and live events such as music and sports. According to sources closer to the company, the organization believes that reinventing the camera presents an unprecedented opportunity for the improvement of the manner in which people communicate and live. Therefore, Snapchart Company seeks to revolutionize communication and image sharing through unveiling the mastermind application that would take over the communication and multimedia segments.
According to the recent information, Snapchart Company is in the process of raising more than $4 billion through the initial public offering. Attaining this target according to sources would push the organization’s value to between $25 and $35 billion dollars. Some sources even stated that the company’s value might escalate up to $40 billion depending on investors’ perceptions. Although no timetable has been given out concerning the IPO, most people expect it to happen quickly (Wortham 53). Some of the sources opined that the IPO of the company would be unveiled as early as the first quarter of 2017. However, the company has the right to raise capital through public offering since its annual revenue does not exceed $1 billion, as provided under the law.
Snapchart is a software application primarily used to create multimedia messages, commonly referred to as the “snaps.” These snaps consist of photos or short videos which may be edited to incorporate filters, effects, drawings and text captions. However, in 2014 the company added a new feature into the product offering, the “Geofilters,” which avails special graphical overlays within particular geographic areas such as a city, destination or event. Moreover, in 2015, the company introduced “lens” feature. This feature allows users of the application to add real-time effects to their snaps through the application of face detection technology. This feature is normally activated by long pressing on the face within the viewfinder. Once the snaps are taken, they can be shared privately with the selected contacts or to semi-public “story.” Each snap has a user specified time, usually between one to ten seconds. The sender of the snaps will often see screen shorts on their devices when sharing the snaps.
To share snaps with friends, they can be added through phone contacts, user names or through customizable snapcodes. In other instances, friends may be added through “add-nearby” functions. In July 2016, the company yet introduced a new optional feature referred to as “memories.” This feature allows snaps and other story posts to be saved into the private storage area where they may be view alongside other photos stored on the device, as well as the edited and published snaps, messages or story posts (Storesund 68). Information from the company states that the company seeks to empower people to self-express during live moments, learn the world and have fun together at the same time. Thus through the Snapchart application and subsequent improvements, the company and analysts are confident that proceeds of the company will be able to assist the company break even at an early stage and set it on a growth path.
However, despite these technological innovation and advancements, the analysts still say that the company is a long way from attaining profitability. Some analysts project revenue in 2017 to soar as high as $1 billion dollars when the application starts focusing on introducing advertising dollars (Walters 89). Nonetheless, they do not believe the company is currently breaking even. Most of the analysts believe that it will take the company a few years into the future to attain profitability. Some of the suggestions they put forward are for the company to focus on increasing the number of employees and the office space, and subsequently manufacture the video capturing glasses that were announced by Snapchart in the recent periods.
Snapchart is an amazing organization. The company believes in reinventing the camera as its greatest opportunity to improve communication and coexistence between human beings. The company’s mission aims to create products that empower people to live in the moment, have fun and learn more about the world they live. However, working at the company usually entails secrecy and upheaval. Most of the employees state that the company aims to create products that resonate with the young people (Storesund 74). However, the company struggles to introduce a sense of cohesion within its high ranks as the company is locked to the traditional top-down culture that usually frustrates most of the employees. This may make working at the company feel uncomfortable for people who do not prefer the top down culture.
The company has been making a considerable amount of job offers in the past two years for engineering students from Stanford and other top universities. A Business Insider report released in 2015 indicates that the salaries for students finishing graduate schools and seniors range close to $300,000-four year stock grants. The report further says that this is a drop from the previous $400,000 in stock (Sashittal 194). Therefore, any student tat accepted an offer to work at the company already count their millions on paper.
