The meteoric rise of Snapchat and the success of its founders is well documented. If so, then when did Snapchat go public? You can learn more about Spiegel’s life in the Youtube video below. The app is widely used by younger demographics, with polls indicating that a whopping 69% of 13-17-year-olds signed up to the app, along with 62% of 18-29-year-olds. To name them, Zuckerberg’s Facebook has grown to acquire Whatsapp, Instagram and Facebook. But who is the owner of Snapchat? The owners (Snap Inc.) wanted a controlling majority of the application. Who would have thought that Instagram’s biggest rival would be an app that doesn’t even store its content once the user reads it? Typical of startups, the idea generator often gets kicked out of the group. Reggie Brown was a student at Stanford University. To name them, Zuckerberg’s Facebook has grown to acquire Whatsapp, Instagram and Facebook. It was initially formed by Murphy and Spiegel on September 16th, 2011, as Snapchat Inc. but was renamed into Snap Inc. Moreover, it also handles some other products like Spectacles, the company’s pair of smart glasses that record up to 10 seconds of video. If that doesn’t tickle your fancy, then perhaps the knowledge that its first slated name was ‘Picaboo’ will. Like the former, Slate Path Capital has also profited from the app’s growth in the New York Stock Exchange market. So, who bought Snapchat? As a result, the company still strives to acquire more shares with its current equity statistics at 20.3 million. As investors struggle to outdo each other in buying and selling of shares, it’s also worth mentioning that Snapchat’s parent company is called Snap Inc. Kevin And Mike Stay With Instagram. Within a year of the app’s release, and after launching video capabilities and becoming available to Android users in the Google Play store, Snapchat was now seeing a massive increase in users, with more than 20 million snaps being sent per day. Following the company’s hedge funding, Snapchat went ahead and raised a total of $50 million. Ventures ousted SnapChat out of bankruptcy to pay for their servers just in time to earn a stake in to make the list of those who own SnapChat. Together, they worked tirelessly and came up with ‘Picaboo’ as the name of their ingenuity. Since its creation in 2011, Snapchat has quickly become one of the most popular and widely-used social media platforms in the world. With so many companies regularly acquiring other companies (ex: Snapchat owns Bitmoji, Facebook owns Instagram), it’s easy to see why some might think the two had merged. READ ALSO: Who owns Land Rover and Jaguar car company? The developer’s settled with SnapChat. It may be easy to assume that all social media giants have one CEO, but Snapchat is not a standalone company. READ ALSO: Who is the current owner of Coca Cola? Though the app grows popular each day, its stock regularly plummets from time to time. The app was released initially on iOS in July 2011 and later renamed as Snapchat, which was released on September 2011. Snap Inc was founded in 2011, after co-owners Spiegel, Murphy and Brown all met while studying at Stanford University. As Snapchat has matured in recent years, with more than 150 million users who visit the app on a daily basis, it has become a dangerous foe to Facebook and Instagram. By Nina Godlewski On 3/26/18 at 2:21 PM EDT . Currently, Spiegel owns over 81.4 million shares directly and 5.8 million indirectly through trust funding. Here's what you should know. He coined an idea in which people can share multimedia content that ‘disappears’ within a short while. How much was the net worth of Jay-Z in 2017. They currently own 17.0 million worth of equities on the app. Here’s a list of all the managers, institutions, and shareholders of Snapchat and the answer to, "who is the owner of Snapchat currently?". Over 210 snaps are sent by users in a single day, with total snaps still increasing exponentially. Recent data reveals that the company’s co-founders have the biggest ownership claim to the company. The company is responsible for the app’s development, maintenance, and updates. It currently has over 18.9 million equities invested in the app. SnapChat’s success did not go unnoticed by Facebook and thus they approached Snap Inc. a company that owns SnapChat. READ ALSO: Find out the current owner of Instagram, Business & Economy section is brought to you by, Leave your email to receive our newsletter, Get the news that matters from one of the leading news sites in Kenya, Drop your mail and be the first to get fresh news, Trending celebrity news: Dennis Itumbi, Jowie, Diamond, Obinna and more. Who & Why Did Albert Chang Cheat On Lily ‘Pichu’ Ki With? This was where Snapchat would be born. Who would have thought that Instagram’s biggest rival would be an app that doesn’t even store its content once the user reads it? The couple met at the Museum of Modern Art in 2015, and have been married since May 2017. The other co-founders own a substantial majority of deciding stake in the company. Many a times, we associate Mark Zuckerberg as the king of social media. One of its early contenders was its rival company, Facebook, that offered $3 billion to buy it out. Many a times, we associate Mark Zuckerberg as the king of social media. Currently, the two have majority voting power at 95% over the board. Snapchat is owned by a Social Media company called Snap Inc, founded in 2011 by software engineers and entrepreneurs Evan Spiegel, Bobby Murphy, and Reggie Brown. They had previously worked together on a start-up intended to help potential students with the university application process. Evan was impressed and they sought the services of Bobby Murphy; a coding geek to actualize the idea. But who owns this billion-dollar company? Snapchat is one of the most popular social media platforms in the world, but who owns the company and when was it created? Lawyers battled it out until and finally got Reggie a settlement deal for $157.5 million and credit to the apps authorship. Murphy currently heads the engineering and research teams at Snap Inc, as the chief technology officer. Brown came up with the idea of SnapChat. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. SnapChat’s success did not go unnoticed by Facebook and thus they approached Snap Inc. a company that owns SnapChat… Thank the heavens, the creative team bypassed that route and went with its current name, Snapchat. Snapchat was originally the brainchild of Brown. Though Snapchat was originally the brainchild of Brown, he would be ousted from the company within a few months of the company’s creation, due to irreconcilable differences with his fellow co-founders. Brown would receive a settlement of almost $158 million between 2013 and 2018. But who owns this billion-dollar company? Facebook, who owns Instagram, promised to develop the app as a separate entity from Mark Zuckerberg’s own social media site. Together they share ownership of the app. Following closely is Lightspeed Venture Partners. Snap Inc. decided to focus its marketing on the technological aspects of the app rather than branding, and this refreshing approach would lead to considerable success. Brown approached Evan Spiegel, a fellow student he lived with at Stanford about his idea. 10/13/2020. SnapChat is one such entry that made its debut to the social media market in 2011. Spiegel and Murphy now have a combined voting power of 95%, with each founder’s share being transferable to the other upon their death or retirement. Following the same pattern, the company’s co-founder Evan Spiegel is next on the list with equities amounting to 71.6 million. Out of this, a higher percentage of the demographic belonged to persons under the age of 34. It later launched on the Android platform on October 29th, 2012. Who owns Land Rover and Jaguar car company. READ ALSO: Find out who owns Aston Martin car company. In September of the same year, the app name was changed from Picaboo to the now internationally recognizable Snapchat. Originally Picaboo, SnapChat had to rebrand following the existence of Picaboo. The Snap Inc. founders would focus on a total rehaul of the product’s image, both through branding and technological innovation. The second-largest institution with majority shares on the app is The Vanguard Group Inc. with equities totalling to 58.6 million. It may be easy to assume that all social media giants have one CEO, but Snapchat is not a standalone company. All of which, are giant social messaging apps. … The next set of questions to ask is; Is Snapchat publicly traded? Bobby Murphy is a little more lowkey than his current business partner, but currently sits 12 places higher than Spiegel on the Forbes 400 list, at number 148. The three Snap inc. owners wanted to create an app that would allow sent messages to ‘disappear’, which was the primary purpose of the new program.