![]() ![]() It was founded under the name Picaboo in 2011 by Stanford University students Evan Spiegel, Reggie Brown, and Bobby Murphy. Snapchat is essentially a fast and fun way of messaging friends and particularly famous among teens and young adults. Its paid subscription version, Snapchat+, which is offered at USD 3.99 per month, had 2.5 million subscribers and an annual revenue run rate of over USD 100 million in just six months since its launch. ![]() At its Investor Day event on 16 February 2023, the company revealed its ambitious goal of reaching more than 1 billion people in the next two to three years. In fact, attracting users holds the key to long-term success, and Snapchat knows that well. And to remain competitive in the world where other social media apps continue to redefine the future of communication, Snapchat, too, needs constant updates that can both serve its existing user base well and attract new users. With more than 750 million monthly active users worldwide, Snapchat is one of the world’s largest, most influential and commercially successful social media platforms. ![]()
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