“And we’re going to have to go through an education process for the next five years to explain to people how our users and that creativity creates value.”ĭespite its largely young customer base, he views Snapchat, the messaging and entertainment hub used by 158 million people each day, as appealing to anyone, regardless of age. “We built our business on creativity,” Spiegel said. Facebook has reached immense value by connecting 1.9 billion people to its social network, but Spiegel believes Snap could become just as valuable by building a smaller, more personal service. They recognize there’s a disconnect between how investors and much of the public want to see Snap evolve - preferably something as ubiquitous as Facebook - and the path they see the business taking. Spiegel said he sees a benefit in having the company’s value determined by public markets as he and Murphy try to grow the business. Stock market analysts have questioned why Snap went public at 6 years old with nascent revenue-generation and increasing losses.
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