Snap Inc. (NYSE: SNAP) is an American camera and social media company based in Santa Monica, California.
Snap Inc. was founded in 2011 by Evan Spiegel and Bobby Murphy as Snapchat Inc. The company's flagship product is Snapchat, a mobile app that allows users to send ephemeral photos, videos and messages. In 2016, the company rebranded as Snap Inc. and launched its first hardware product, Spectacles camera glasses.
Snap's products include the Snapchat mobile app, Spectacles camera glasses, and Bitmoji avatar app. The company's mission is to "reinvent the camera" to improve how people live and communicate. Snapchat features include photo/video messaging, Stories, Discover content from media brands, augmented reality lenses and filters. As of Q4 2023, Snapchat had 406 million daily active users globally.
Snap has experienced rapid growth since its founding but faces ongoing challenges in user growth and monetization. The company generates revenue primarily through advertising on Snapchat. In 2022, Snap reported USD 4.6 billion in revenue. The company faces competition from larger rivals like Meta, TikTok and Google in the social media and digital advertising markets.
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