Snapchat, beloved app of teens and investors everywhere
You may be a late adopter to Twitter or Instagram, but ask your kids and they’ll tell you Snapchat is all the rage. The app that lets you send self-destructing messages to your friends is just two years old, but according to rumors, Snapchat has raised $200 million in venture capital.
“Snapchat has essentially found the zeitgeist for a younger demographic of people who have found the internet to be too public a place,” says Om Malik, founder of the tech news site GigaOm.
Malik says love from privacy-seeking teens also means love from investors who think social networks are having their big moment.
“In the past, there used to be the old technology — like semiconductors and optics. Now it happens to be these kind of social environments whether it’s Instagram or Twitter or Snapchat,” Malik says of today’s investing environment.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
