2016 was a big year for Snapchat, they battled facebook, added features, expanded their advertising reach and re-branded as Snap Inc., which CEO Evan Spiegel referred to as “a camera company.”
The app itself underwent a lot of change but perhaps the biggest was the addition of memories. This feature, allowing users to import and share photos, came as a major shake to the app’s core features which centered around deleting pics, not saving them. The addition of group message was a long awaited and very welcome update for many users. They also continued to improve chat and rolled out some cool features with partners Bitmoji and Shazam.
Perhaps Snapchat’s biggest move as a business was opening up its advertising API to help brands target audiences based on interest. Brands reacted favorably and revenues were reportedly over 360 million for the year.
Selling camera glasses out of oddly placed vending machines doesn’t quite seem like Snapchats MO, but we saw it happen this year! The company released a pair of connected sunglasses, Snapchat Spectacles.
The glasses feature a camera with a 115-degree lens, with the purpose of mimicking how humans actually see. The idea is you'd use them in order to capture your adventures as you see them, The clips are then saved to Snapchat memories.
2017 is shaping up to be even better year and no doubt they will continue to improve both their software and hardware but most importantly Snapchat is lined up for what could turn out to be the biggest tech IPO in years and E marketer predicts revenues to be around 1 billion in the next 12 months. It will be exciting to see what else is in store this year!