![]() And it is one of the biggest reasons why Facebook made an offer to buy Snapchat for $3 billion back in December 2012. ![]() The bulk of Snapchat’s user base is a highly coveted demographic of people in North America between the ages of 18 and 25. But from a business strategy standpoint, companies should have a deliberate focus on when to be the first-mover and be prepared for the competitive response as well as when to be a version of a fast-follower in order to amplify customer engagement especially as competition accelerates in the social domain. The Snap Map feature is largely based on Snap’s acquisiton of Zenly, a location-sharing startup for between $250-300 million in late May.Ĭlearly, Snap created a goldmine and unlocked a new paradigm that resonated with users. When users log in they are able to pinch and zoom out to view a comprehensive map and have the ability to browse users who opt in to share their location publicly. ![]() Launched a few weeks ago, Snap Map is a feature that helps users view in real time where friends are and discover content around the globe. Snap was also a first mover with the launch of Snap Map. In a Form S-1 filing, Snap revealed that over 25% of its Daily Active Users (DAUs) post to their Stories per day. Each individual user has access to “My Story” and can join community “Live Stories.” Plus there are Publisher Stories that can be created by Snap’s publisher partners. Snapchat Stories are now a focal point of the app and it contributes to daily active users (DAUs) spending an average of around 25 minutes a day on the platform. Snapchat Stories allows users to create a chain of photos and videos that can be viewed an unlimited number of times within 24 hours. One of Snap’s biggest engagement drivers is Stories, a feature that launched back in October 2013. From its inception, Snapchat has also had an aggressive product innovation strategy, launching colossal features ranging from Stories to Lenses to Face Swap in a quick time horizon. Snapchat has historically held the first mover advantage in the ephemeral messaging and vertical video space. ![]()
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