Facebook and Twitter, meanwhile, are made up of 38 percent and 41 percent of users in that age group, respectively. A whopping 71 percent of Snapchat's US-based users are between the ages of 18 and 34, according to a study published in March by research firm ComScore. Snapchat is banking on its popularity with young users - a key demographic for social networks. In March, Alibaba made a $200 million in Snapchat, giving the 4-year-old startup a possible valuation of $15 billion. The startup's valuation has skyrocketed in the past year, thanks largely to a $20 million investment from venture-capital investment firm Kleiner Perkins Caufield & Byers that helped value the Los Angeles-based company at $10 billion. Snapchat is busy fire-fighting thanks to a report which claims CEO Evan Spiegel said the app was not for poor countries like India. "We don't know when but it's something we factor into our plans when we think of the growth of our business." "I think people are making riskier investments and I think there will be a correction," he said. Spiegel also said he worries that the tech industry is in a bubble and the burst is imminent. His new bid was also declined, said the paper, because the Snapchat CEO is holding out for even higher offers early next year, when he expects the app’s already vast user numbers to have ballooned further.When asked Tuesday if he would entertain another takeover offer, Spiegel said bluntly, "No."
Live capture with Snapchat/Lens Studio &. The 29-year-old is one of the youngest billionaires in the world, with an estimated net worth around 4 billion. Facebook boss Mark Zuckerberg had apparently approached the Los Angeles-based firm with a previous offer in the region of $1bn but was rebuffed. Oh so the vogue runway app got a new update where you can try on clothes from collections. Life is good for Snapchat CEO Evan Spiegel. CEO Shou Chew sought to quell concerns that TikTok is a Chinese asset that could spy on its 150. It would have made it Facebook’s most expensive purchase to date, dwarfing last year’s $1bn acquisition of the photo-sharing social network Instagram. Snapchat and Meta Platforms jumped on Thursday as the CEO of TikTok gave testimony to Congress. The former Credit Suisse banker will report directly to CEO Evan Spiegel and head up the social networks strategic vision. Snapchat is introducing a chatbot powered by the latest version of OpenAI’s ChatGPT. This week, 23-year-old Snapchat co-founder and CEO Evan Spiegel is reported to have turned down an offer from Facebook of $3bn (£1.9bn) for his young firm.Īccording to The Wall Street Journal, Mr Spiegel and his partner, CTO Bobby Murphy, 25, declined a cash offer of “close to $3bn or more” for Snapchat. Snapchat hires big-time banker Imran Khan. Two years ago, his Stanford University classmates were scoffing at his idea for a new kind of instant messaging app.
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