I can guarantee almost everyone reading this has Snapchat installed on their phone right now, and that is thanks to visionary entrepreneur Evan Spiegel. In 2011, twenty-one year old Stanford graduate Evan Spiegel founded Snapchat with his fraternity brother Bobby Murphy. Spiegel created an app completely different from all the rest at its time, and it would go on to make him a billionaire.
Even with Facebook and Instagram trying religiously to copy Spiegel’s creation, Snapchat has reigned supreme as the best photo communication technology, averaging “191 million users” a day. In 2017, Snapchat went public as Snap Inc.™, and twenty-eight year old Spiegel became the youngest CEO of a public company in American history. Since going public, Snapchat has struggled financially. However, Spiegel still refuses to give up his CEO position or sell his 18% of the company. It is impressive to see someone stay strong and keep protecting their vision, even amidst much criticism and struggles.
I think it’s pretty impressive that such a young CEO would hold on so tightly to such a valuable company. I know that if I were in his position I would’ve sold it a long time ago.
That’s so cool that he created such an impactful app on society in COLLEGE. He proves that you don’t need a degree or a big fund to become an entrepreneur. (Also as I’m writing this, I just watched a girl walk by taking selfies for snapchat — just reinforcing how popular the app has become in a relatively short amount of time!
An intriguing aspect of this is how quickly a form of social media can become outdated–while people are still using Facebook and Twitter a decade later, there’s definitely a demographic shift, and most millennials nowadays use Instagram and Snapchat primarily. Being able to predict what next social media form will catch on be has to be really difficult and requires a visionary mind. I wonder if this guy had any idea how big his idea would become.
I wish I could come up with an idea of Snapchat. It is probably the most used app on my phone. It’s great to see college kids like him make amazing product like this