Ronn Torossian on Snapchat: Then, Now and the Future.

Snapchat: Then, Now and the Future

Any tech savvy individual can tell you exactly what Snapchat is.

However, for those that do not know, it is quickly becoming one of the most used social media apps. In fact, it was even once given a huge valuation of $10 billion dollars. The reason for this success? Well, it incorporates everything people love, sending pictures and chatting with one another privately.

In particular, Snapchat is a photo messaging app where individuals send pictures to each other that can only last up to 10 seconds. After that, the picture disappears. Sure, users can screenshot the picture they were sent, but when this happens the sender gets a notification.

Unlike other social media sites, though, every picture sent here is private. In other words, only the receiver can see the image. There is also the option to chat with one another here.

Besides taking pictures, users can record videos and add drawings and text. These creations can then be sent to a centralized, controlled group of users. The sent messages are known as snaps. Since Snapchat is unique compared to other social media sites, it is extremely popular.

Actually, according to the app, in May of 2014 there were over 700 million pictures and videos being sent daily. Not just that, though. The Snapchat stories posted on the app was being looked at 500 million times a day. With all that success, it is no wonder that Snapchat was valued at a whopping $10 billion.

However, Snapchat turned down that valuation, which came from the suitor known as Alibaba. That's because the company values their business as more than just a moneymaker. To them, their capital requirements are the least important part of joining the Snapchat family. Due to this, they prefer not to be looked at solely for how much money they can rake in. There is more to Snapchat than that.

Thankfully, with the kinds of technologies that Snapchat employs, this company is only headed for bigger and better things in the future. It has quickly become one of the most popular social media apps among young adults, even beating out Facebook.

With new features like chat and advertisements, the sky is the limit for Snapchat. Plus, they have already raised $163 million in funding. That means Snapchat certainly has the means to keep developing their blossoming business. Plain and simple, Snapchat isn't going anywhere any time soon.

Ronn Torossian is the CEO of 5WPR and Founder of the Ronn Torossian Foundation. Ronn understands the invaluable importance of services such as Snapchat, and is excited to see what direction the company takes going forward. What are your thoughts on Snapchat?

This post was repurposed for distribution.

To read more news and updates from Ronn Torossian, go to www.ronntorossianfoundation.com