Snap Inc.
Current logo, unveiled on September 24, 2016 during the company's rebrand.
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Formerly called
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Snapchat Inc. (2011-2016) |
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| Public | |
| Traded as | : SNAP |
| Industry |
Technology Social media |
| Founded | September 16, 2011 |
| Founders |
Evan Spiegel Bobby Murphy (each with 21.8% controlling equity; 70% voting power) |
| Headquarters | Venice, Los Angeles, California, United States |
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Area served
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Worldwide |
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Key people
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| Products |
Snapchat Spectacles |
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Number of employees
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 1,859 (2017) |
| Subsidiaries | Snap Group Limited |
| Website | snap |
Snap Inc. is an American multinational technology and social media company, founded on September 16, 2011 by Evan Spiegel and Bobby Murphy and based in Venice, Los Angeles. Its products include Snapchat and Spectacles, as well as the Bitmoji app. The company was originally named Snapchat Inc. upon its inception, but it was rebranded on September 24, 2016 as Snap Inc. in order to include the Spectacles product under a single company.
The company was founded on September 16, 2011 by Evan Spiegel and Bobby Murphy, simultaneously on the initial relaunch of Picaboo as Snapchat. On December 31, 2013, the application was hacked and 4.6 million usernames and phone numbers were leaked to the Internet. Also in December 2013, Emily White, who had formerly been a high-profile executive with Facebook, Instagram, and Google, was hired as COO. Her tenure with the company ended in March 2015.
By January 2014, the company had refused offers of acquisition, including overtures from Mark Zuckerberg to buy Snapchat and its assets, with Spiegel commenting that "trading that for some short-term gain isn’t very interesting". In May 2014, the company acquired the software company AddLive and reached an agreement with the Federal Trade Commission (FTC) following the leak, citing misinterpretations on storage of user data and the fact that "snaps" can still be accessed regardless of its expiration. In December, the company acquired Vergence Labs for $15 million in cash and stock, who were the developers of Epiphany Eyewear, and mobile app Scan for $150 million, which was revealed during the Sony Pictures Entertainment hack.
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