I remember a couple years ago reading about snapchat business model being worthless and how the company even with millions of consumer won’t be able to monetize (example of pessimism here). Even if it was not unanime, as Forbes prove it, a lot of people, including myself were skeptical, and we had some reasons to be.
First, snapchat included new features then texts messaging, and sponsored parts. But none of them were really convincing and let us imagine the genius of the founders: In Discover the new version of snapchat, you can read original content for publishers and editors as CNN MTV or Yahoo News. Snapchat is revolutionizing the editor process, creating a unique platform gathering an existing community and offering them new original contents for free every day on topics totally different.
But more than that, Snapchat teaches us a big lesson. When you have consumers, you can monetize. Most of the entrepreneurs I’ve seen already know it, but they only think about big data. Snapchat teaches us that one should not be running for big datas, revenues or public recognition in the first place. It teaches us the importance of timing, patience, hard work and of course some genius. I have no idea if Evan Spiegel had this idea from the beginning, but I’m pretty sure he did not (if he did he is 3 or 4 levels smarter than we thought). He just focused on getting consumers and listening to them, which is the best advise he could gave us. When he had enough users, budget and already became a solid company, he started another revolution and created this integrated platform. I’m already excited to see what they have next for us. I’m not a big snapper but I think I can recognize terrific ideas when I see them and how it will impact the world.