It falls under the Communication Services sector, under the Internet Content & Information industry. Snap Inc. In the same year, Snapchat rebranded to Snap Inc., and the company went public on March 2nd, 2017, with a valuation of between $25-$30 billion. The stock is listed on the NYSE, where it trades under the ticker symbol SNAP. By April 2012, the app had registered 100,000 users and by the end of that year, the company introduced video snaps that fuelled their success further.īy May 2013, 150 million snaps were being sent daily, and by the end of that year, the company reportedly rejected a buyout offer from Facebook worth $3 billion. The rejected Facebook offer opened a battle between the two companies that eventually shaped and dictated the fate of Snapchat. Facebook later incorporated Snapchat features on its Instagram and WhatsApp applications, and it took a real assault on a company it would otherwise have bought earlier. Snapchat’s resilience continued, and in 2016 it was reported that Google offered to buy the company for $30 billion, an offer that would be rejected again.

The founders imagined that people would take photos differently and confidently if things on the internet were not permanent. Snapchat took off to an impressive start and immediately appealed to the lucrative younger generation demographic that is constantly online and by all means, hard to impress. Students particularly liked the idea of texting during classes with no evidence available.

The company was founded by Evan Spiegel and Bobby Murphy on September 16th, 2011 and it is headquartered in Santa Monica, California, USA. Snap’s flagship product is the iconic social media app, Snapchat, but the company also develops and maintains Spectacles (smart glasses that record Snapchat videos) as well as Bitmoji (a personal emoji creator app). The inspiration for forming the original Snapchat company came from the need to create attractive, beautiful and cool disappearing photos. simply describes itself as a camera company.

Snapchat stock today