Snapchat Redesign Coming December 4th

Snapchat

Snapchat will be releasing a redesign of their app on December 4th. Alex Heath has the scoop over at Business Insider:

With the company seeking to kick-start stagnant user growth, CEO Evan Spiegel on Tuesday publicly said the app would be redesigned to make it “easier to use” but didn’t specify when the redesign would be released. Snap employees were internally notified of the planned December 4 release date this week, according to a source familiar with the matter.

I don’t have a good feeling about Snapchat’s future.

Snapchat Introduces Custom Stories for Capturing Group Moments With Friends

Snapchat

Casey Newton, writing for The Verge:

To create a custom Story, tap the new “Create Story” icon in the top-right corner of the Stories screen. Give your Story a name, and then invite the friends you want to participate — no matter where in the world they live. You can also invite all nearby Snapchat users to participate. Snapchat will create a 1-block geofence around your current location; those Stories can only be seen and contributed to by your friends and, if you like, friends of friends.

Snapchat Files for IPO

Snapchat

Snap Inc., the parent company for Snapchat, has filed for an IPO:

Snap today filed its S-1 paperwork with the Securities and Exchange Commission (SEC), triggering the process to go public. The company aims to raise $3 billion in the initial public offering (IPO) and will subsequently trade on the New York Stock Exchange under the symbol SNAP.

The filing also discloses that Snapchat paid $158 million to their ousted co-founder Reggie Brown:

As part of the settlement, Snap said it agreed to pay Brown a total of $157.5 million in cash, $50 million of which was paid in 2014 and $107.5 million of which was paid in 2016. The settlement ended up being much less than the $500 million Brown originally asked for.

Snapchat has been arguably the most interesting new startup in years, now the question is: will it be the next Facebook and dominate or the next Twitter and struggle to find its footing?

Snapchat Releases First Hardware Product

Snapchat

Seth Stevenson, writing for The Wall Street Journal, on Snapchat’s new hardware product, “Spectacles.”

What initially appears to be a normal pair of sunglasses turns out to be Spectacles, the first hardware product from Snap Inc., as the firm has been newly christened (Spiegel is refreshing the company name because its offerings now go beyond the Snapchat app). When you slip Spectacles on and tap a button near the hinge, it records up to 10 seconds of video from your first-person vantage. Each new tap records another clip.

They’re hideous and I expect to see them at concerts in the not so distant future.

Snapchat Looking for $20 Billion Valuation

Snapchat

Snapchat is currently raising more money at around a $20 billion valuation.

TechCrunch has learned from multiple sources that Snapchat is raising yet more financing at around a $20 billion valuation. Sources with knowledge of the deal say the social media giant is in the process of a round of about $200 million.

I didn’t really get Snapchat until I started to use it more. There’s something freeing about the app that separates it from the other social apps I use. I think knowing that things you post aren’t forcing themselves into your followers’ feeds (freeing you from being worried about spamming them), and knowing it’ll disappear within a day (freeing you from feeling embarrassed something is up forever), and being able to post quick random videos, makes the app oddly more sticky than I would have expected.