Snapchat is a fairly recent photo messaging application. The application allows its users to take pictures and record videos and send them to friends. These pictures/videos that are sent are known as ‘snaps’ and they only last for 1-10 seconds, after this time they are deleted.
SnapChat was originally started as a project of creators Evan Speigel and Reggie Brown for one of their classes at Standford University.
The main demographic for the app are people between the ages of 13 and 23. 80% of all snapchat users are from the United States.
As of May 2014 users of the app were sending up to 700 million snaps per day.
The company has a value of ten billion to twenty billion dollars.