Snap Inc. is a publicly traded company ( as of March 2017),that allows its users to record videos and take pictures in a “Snap”. Up until March 2017, the company was a privately held company.This application is used on smartphones such as Iphones and Androids. The videos and/or photos can be taken and can last up to 24 hours. Snapchat was created by Evan Spiegel, Bobby Murphy, and Reggie Brown in 2011. Later on in the fall of 2011, Reggie Brown was booted from the company following a dispute of equity shares. The dispute didn’t stop there, in early september the company and its Co-Founders found themselves in a dispute with a former classmate at Stanford University. The former classmate stated that he had come up with the idea for vanishing
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In late 2013 early 2014, Snapchat was hacked and millions of users information was leaked. The information that was leaked was information such as users usernames and phone numbers. A security group found its way to the apss “ find friends “ feature and from there was ample to access the company's database of usernames and phone numbers. With this find friends feature users provide snapchat with their cell phone numbers so their friends can match it against numbers in their address books; Hackers took advantage of the future and posted 4.6 million usernames and phone numbers. This hack was not only embarrassing for the company but was a huge setback for the social network based upon a high-level of privacy they insured to their users. Later on in the year, on May 8th 2014 the company settled the charges by the Federal Trade commission. From here on out snapchat is prohibited from misrepresenting how it maintains its privacy to its users. Not only does snapchat now have to be upfront and clear with their privacy policy but they are also required to start a wide- ranging privacy program, which is probation causing them to be independently monitored for 20 …show more content…
They created a method where you could send and receive money through snapchat and labeled it Snapcash. It has been reported by the company that this feature didn’t generate any significant revenue. SnapCash wasn't the only new feature that was added to the app to engage its users. In October, 2015 the company launched “ Sponsored lenses”. With this feature does is allow its users to add different animated filters to their pictures and videos. This was a new and fun feature that caused the app to gain thousands of new users. On top of the Snapcash and the Sponsored lenses, recently SnapChat updated the length of the videos you can take and released a new product called Spectacles. In regards to the length of the videos and pictures they have increased by looping every 10 second clip together. They also allow you to snap a picture and have it last to infinity-until they click out of the snap. This allows the users to view a picture and video for however long they would like. When it comes to Snaps second most recent development spectacles,They are specifically designed sunglasses that are able to record videos and sync up to your snapchat account. Pricing wise, these are $129.99 online. Their popularity isn’t growing due to pricing and how the trend isn’t shifting to this specific product; it was described as “unnecessary”. One source estimates that the unsold spectacles
In late 2013 early 2014, Snapchat was hacked and millions of users information was leaked. The information that was leaked was information such as users usernames and phone numbers. A security group found its way to the apss “ find friends “ feature and from there was ample to access the company's database of usernames and phone numbers. With this find friends feature users provide snapchat with their cell phone numbers so their friends can match it against numbers in their address books; Hackers took advantage of the future and posted 4.6 million usernames and phone numbers. This hack was not only embarrassing for the company but was a huge setback for the social network based upon a high-level of privacy they insured to their users. Later on in the year, on May 8th 2014 the company settled the charges by the Federal Trade commission. From here on out snapchat is prohibited from misrepresenting how it maintains its privacy to its users. Not only does snapchat now have to be upfront and clear with their privacy policy but they are also required to start a wide- ranging privacy program, which is probation causing them to be independently monitored for 20 …show more content…
They created a method where you could send and receive money through snapchat and labeled it Snapcash. It has been reported by the company that this feature didn’t generate any significant revenue. SnapCash wasn't the only new feature that was added to the app to engage its users. In October, 2015 the company launched “ Sponsored lenses”. With this feature does is allow its users to add different animated filters to their pictures and videos. This was a new and fun feature that caused the app to gain thousands of new users. On top of the Snapcash and the Sponsored lenses, recently SnapChat updated the length of the videos you can take and released a new product called Spectacles. In regards to the length of the videos and pictures they have increased by looping every 10 second clip together. They also allow you to snap a picture and have it last to infinity-until they click out of the snap. This allows the users to view a picture and video for however long they would like. When it comes to Snaps second most recent development spectacles,They are specifically designed sunglasses that are able to record videos and sync up to your snapchat account. Pricing wise, these are $129.99 online. Their popularity isn’t growing due to pricing and how the trend isn’t shifting to this specific product; it was described as “unnecessary”. One source estimates that the unsold spectacles