Snapchat – Photo Sharing App – Now Worth $800 Million
Launched in 2011 the developers behind the photo sharing app Snapchat have just secured around $60 million in fundng, according to Petapixel, this investment ‘pegs the value of the company at a staggering $800 million’.
It’s a well known fact that the best ideas are the simple ones and Snapchat fits that remit. The purpose of the app is to transmit images to their friends mobile devices – but the ‘catch’ is that the photo only display for tens seconds or less – the app sends a notification message to the sender when the recipient screencaps the image. That’s it and believe it or not over 200 million snaps are shared via this service daily. In February this year there were 60 million daily snaps shared, with this new round of funding this service is about to get a lot bigger.
It’s interesting but as Petapixel point out ‘despite the impressive valuation, however, it remains to be seen how Snapchat will monetize the service moving forward’.
Click here to download Snapchat and give it a try for yourselves.
Joanne Carter
Joanne Carter BA (Hons), ARPS is a British photographer, photography journalist, editor and curator, and the founder and editorial director of TheAppWhisperer.com, an independent international photography publication established in 2009.She holds a First Class Honours degree in Photography and is an Associate of the Royal Photographic Society (ARPS).Her journalism, criticism and editorial work have appeared in The Times, The Sunday Times, The Guardian, Financial Times, BBC, Vogue Italia, LensCulture, Popular Photography and NikonPro, among other international publications.Through TheAppWhisperer, she brings together academic knowledge, professional photographic expertise and more than 17 years of specialist editorial experience to examine contemporary photography, mobile imaging, computational photography, photographic applications and emerging imaging technologies.
