New app-based messaging companies like Japan-based Line are already coining money by allowing users to pay modest amounts for the right to send things like emoticons or copyrighted characters to each other, as well as to send each other "virtual gifts." Users might pay 50 cents or $1 for these, or buy a pack of them for $5. So the Snapchat advertising opportunity seems real. What's more, Snapchat's users don't care about seeing the occasional ad, especially if it's from a brand they like or think is cool. Advertisers are jazzed about this, because Snapchat allows them to reach a coveted demographic (teenagers) that they have trouble reaching anywhere else, including via Facebook. Snapchat has already experimented with mixing in one video or photo advertisement in every 20-30 snaps. The average active Snapchat user, of which there are likely already 10s of millions, receives ~150 an estimated 20-50 "snaps" per day*. And, basically, every other successful Internet company that has burst on to the scene and grown rapidly over the past 20 years.īecause, despite the phenomenal success of these companies - and their demonstrated ability to attract users first and build a business later - some observers can't seem to fathom that this is a proven way for amazingly successful and valuable companies to be built. And they said the same thing when Twitter was first valued at tens of millions. Then they said it again when the still revenue-less Facebook was valued at hundreds of millions. People said exactly the same thing when the revenue-less Facebook was first valued at tens of millions of dollars.
Well, as we pointed out last week, this insta-consensus around startling valuations is nothing new in the tech world. If anyone needed confirmation that we're right back in a "tech bubble," this was it.
Even a one billion dollar offer for a company like that was "insane," let alone a three billion-dollar offer. Pawel Jankowski Frank Schwab Christopher Shaffrey Christopher Shaffrey. And arrogant! How else could they pass on a crazy offer from a "desperate" Facebook? Snapchat doesn't even have revenue. Introduction: As various studies show, damage to white matter pathways leads. He is scheduled to be sentenced on September 8 and faces up to twenty years in prison. Snapchat and its investors were obviously delusional idiots, Twitter pundits agreed. In May 2004, Frank Quattrone, the star investment banker of the dot-com era, was convicted in federal court on two counts of obstructing justice and one count of witness tampering. Predictably, the cat-calls and howls of indignation began.
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