'Now photographs are used for talking' — Watch Snapchat's CEO explain what makes the app special (SNAP)

pulse

February 4, 2017 5:27 PM

What exactly is Snapchat, and why is it potentially worth $25 billion?

Evan Spiegel Snapchat logo

You may have never used the app that's barreling towards a blockbuster IPO, but you've probably heard of it.

Even if you are one of Snapchat's 158 million daily users, you'll be interested in how its CEO Evan Spiegel explains the app.

Spiegel rarely does media interviews, but he laid out why he invented Snapchat and what makes it popular in a four-minute video posted on Snapchat's official YouTube channel in 2015.

The blurry video of Spiegel in his classic white v-neck is still the best concise explanation of how Snapchat works to date. Spiegel begins by giving a brief overview of how smartphones have changed the way we share photos, and how Snapchat fits into that trend. He also breaks down the app's somewhat confusing layout.

Here are the key takeaways:

“Snapchat really has to do with the way photographs have changed," according to Spiegel.
Mobile phones enable us to have “instant expression,"
Snapchat is divided into three main screens
Since Snapchat always starts at the beginning of a moment, it gives stories a familiar feeling.
"It’s all about talking with pictures and expressing yourself in the moment."

Spiegel is a billionaire on paper, and his company is aiming for a $25 billion valuation when it goes public, according to people familiar with the matter.

There's obviously a lot more to Snapchat than what addresses in the video, like how it lets brands advertise through sponsored filters and video 'snap' ads. Snapchat is also a player in the media content business with Discover, a way for publications like the Daily Mail and National Geographic to share text and video stories.

Snapchat has also rebranded into Snap Inc. and renamed itself as a "camera company" in the last year. It's started selling camera-equipped glasses called Spectacles, and says it has more camera-related products on the way.

If you're interested in watching the full video of Spiegel talking to the camera about why his app is so special, you can see it below:

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