The exclusive Crossroads School for Arts and Sciences in Santa Monica is where the entertainment industry sends its offspring. Evan Spiegel, reflecting on the hacks of his fraternity correspondence They in no way reflect who I am today or my views towards women. I'm obviously mortified and embarrassed that my idiotic emails … were made public. That’s no small detail to a generation taught from an early age that anything shared on social media can one day be used against them. Its signature auto-deleting videos encourage spontaneity and carefree self-expression. His vision has led tens of millions of people under age 25 to open Snapchat 20 times a day to reach friends and catch up with what’s happening in the world. So long as Spiegel remains the ultimate decision maker, Snap will outpace and out-innovate its biggest competitor, the company contends. To Snap, the answer lies in the trailblazer who turned down the Facebook deal: an enigmatic, 26-year-old who took an app once derided as a sexting tool and sparked a youth phenomenon. If half the world’s Internet users are on Facebook and it replicates the best of Snapchat, why would people sign up for the smaller service?
That mimicry dominates investor concerns about the stock market debut Thursday of the Venice tech company, now known as Snap Inc. Four years ago, Evan Spiegel made the bet of his life, rejecting Facebook’s $3-billion offer for his fledgling video messaging app, Snapchat.įacebook responded by moving aggressively to clone what it couldn’t buy. The defining features of Snapchat - disappearing images, playful cartoon graphics and daily video montages - all became Facebook features, too.
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