A WHOLE generation of young people has been snapped up by Snapchat. Every day around 100m people worldwide use the smartphone app to send (sometimes saucy) photos, videos and messages that quickly disappear from the recipient’s phone. Some 60% of American smartphone users between the ages of 13 and 34 use the service, the firm claims. It is among the most highly valued private technology firms in the world: its most recent financing round, in May, put a $16 billion price tag on it.
The app’s impermanent messages, which help protect the sender’s privacy, have made it popular among young users. So has its clunky user interface, which dissuades parents from using the app. One of Snapchat’s most-used features is “stories”—mash-ups of videos that users take with their smartphones’ cameras, recapping their day’s activities, over which they can doodle and write captions before sharing them with friends. Perfect for the “selfie” generation.
In recent months advertisers, eager to reach young consumers who spend less time with older media, have become captivated by Snapchat’s potential. Both Facebook and Google reportedly tried to buy it in...
from The Economist: Business http://ift.tt/1JA6ahY
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