Well, I can’t speak for what it will do in the first few weeks when hype is at its peak, but long term, my personal vote is NO, I am not in.
Don’t get me wrong. On the surface, things are looking up. Despite the fact that Instagram basically stole Snapchat’s idea with Instagram stories, let’s look at the following:
*Snapchat users are watching over 10 billion videos daily.
*In any given day, Snapchat reaches 41% of all 18 to 34 year-olds in the U.S. To put that into perspective, the average top 15 TV networks reach only 6 percent of that same demographic.
*Last count, they owned 17 buildings in Santa Monica and that number is growing.
But currently, Snapchat, the app, is basically a fun toy, and young people tire of fun toys very quickly. In my view, most apps are like rock bands. Anyone remember The Thompson Twins or Kajagoogoo? At one point, they were at the top of the charts until people moved on to the next big thing.
I think Snapchat obviously understands this idea which is why they are now positioning themselves as Snap, Inc. (a technology company) as opposed to just the app, Snapchat, but the app is still its only proven product at this point, and despite the very impressive numbers it NOW has, the app will simply never be a Facebook. This means that if this company is going to thrive, it will have to do so on the strength of other new products and a killer team of leadership. None of that is proven yet. Just my 2 cents. |