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About Snap
Industries
VR & AR
Consumer Software
Company Size
5,001-10,000
Company Stage
IPO
Total Funding
$2.6B
Headquarters
Santa Monica, California
Founded
2011
Overview
Company Historically Provides H1B Sponsorship
Snap Inc. focuses on enhancing communication and self-expression through technology, primarily in the social media and augmented reality (AR) sectors. Its main product, Snapchat, is a multimedia messaging app that allows users to send photos and videos that disappear after being viewed, along with features like Stories and Discover for sharing content. Additionally, Snap Inc. offers Spectacles, smart glasses that capture video and photos from the user's perspective, integrating with Snapchat. This company targets younger demographics, particularly teenagers and young adults, while also providing advertising opportunities for businesses to reach this audience. Snap Inc. differentiates itself from competitors like Facebook and Instagram by emphasizing self-expression and real-time sharing. Its primary goal is to reinvent the camera and improve the way people communicate and interact with the world.
Simplify's Take
What believers are saying
- Snap's new monetization program could boost creator engagement and ad revenue.
- Strategic debt restructuring may enhance Snap's financial stability and innovation capacity.
- Snap's expansion in India could drive significant user growth in a key market.
What critics are saying
- Intense competition in smart glasses market may overshadow Snap's Spectacles.
- Debt restructuring could strain finances if expected outcomes aren't achieved.
- Leadership changes may lead to instability and affect strategic decisions.
What makes Snap unique
- Snapchat's ephemeral messaging sets it apart from traditional social media platforms.
- Snap's Spectacles offer unique first-person perspective content creation capabilities.
- Snap's AR technology integration in fashion events showcases innovative use cases.
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Funding
Total Funding
$2557.3M
Above
Industry Average
Funded Over
12 Rounds
Lightspeed Venture Partners
Coatue Management
Kleiner Perkins
SV Angel
Benchmark
General CatalystBenefits
Paid maternity, paternity, and family caregiver leave
Adoption, surrogacy, infertility, and fertility preservation benefits
Backup child care coverage, caregiver assistance, and digital maternity care support
Short-term disability, long-term disability, life insurance, and AD&D insurance
Comprehensive medical coverage
Dental coverage, including orthodontia benefits
Vision coverage, including LASIK benefits
Gym perks and discounts
Team fitness classes, hikes, and races
Sports leagues
Cooking and nutritional workshops
Generous time off and leave programs
Emotional and mental health support programs and apps
Social gatherings, team outings, and volunteering programs
401(k) plan
Compensation packages that let you share in Snap’s long-term success!
Growth & Insights and Company News
6 month growth
↑ 2%1 year growth
↑ 3%2 year growth
↑ 1%Snap prices $1.5B senior notes at 6.875%, aims to repurchase $1.4B in convertible notes. Strategic debt restructuring backed by positive rating outlook.
A decade after the debut of the original Google Glass — frame-only glasses with a small computer in the place of lenses — a new wave of next-generation smart glasses has emerged. Meta, Amazon, Snap, Samsung, Baidu, Xiaomi and Google, through its Android XR operating system, are betting on smart glasses to be the next popular connected wearable. About a dozen smaller companies — such as Viture, Even Realities, Brilliant, Solos and Halliday — are also making smart glasses, using the artificial intelligence (AI) of popular large language models like ChatGPT. Unlike the bulky augmented reality/virtual reality (AR/VR) headsets of old, these AI-powered smart glasses are encased in traditional frames of various styles so users don’t look out of place in public. But all of them carry serious electronics to power AI capabilities like online searches and translations
Former Snap and Pandora executive Tom Conrad named interim CEO
Ankit Goyle joins Snap Inc. as head of marketing for India.
Snapchat just announced a new Monetization Program for creators that aims to streamline how they can earn from their content.
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About Snap
Industries
VR & AR
Consumer Software
Company Size
5,001-10,000
Company Stage
IPO
Total Funding
$2.6B
Headquarters
Santa Monica, California
Founded
2011
Snap is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today