If you have ventured out from under your rock anytime over the last four years, you probably know a thing or two about Snapchat. That weird ghost icon with a yellow background is now on your main phone screen. And you poke it frequently. Recently I have received several creative and innovative Snaps from my friends. These Snaps piqued my interested to the extent that I found myself thinking more and more about Snapchat and how the 19 billon-dollar LA-based company has managed to be so successful.
Snapchat’s official release was in September of 2011. When the company first launched the app, the features were very basic. A competing company could have easily replicated the app, but due to Snapchat's innovative and progressive nature, the company was able to evolve into what it is today.
In order to attempt to understand this progressive company I conducted a SWOT analysis using several outside sources along with my personal understanding of the company and industry.
- Snapchat Strengths. Snapchat has successfully left a mark on at almost every major event you can think of by creating the story feature. Snapchats have been taken all around the world.
- Snapchat Weaknesses. Snapchat is not permanent. Pictures are only up for a 24 hour period. Other social media sites allow the user to post a picture and re-visit the photo at a later time.
- Snapchat Opportunities. Snapchat has the opportunity to become the top social media channel. The target audience for Snapchat ranges anywhere from early teens to adults. Every age group uses Snapchat.
- Snapchat Threats. Snapchat does not have any forseeable threats that I can see. I believe the company has limitless potential, and as long as they continue to evolve they will be fine.
