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Snap is about to embark on its investor roadshow as it prepares to go public at the beginning of March. And a new video gives a glimpse at\u00a0how they will be trying to persuade Wall Street to buy shares.<\/p>\n
The video starts off with CEO Evan Spiegel emphasizing their mission as a \u201ccamera company.\u201d He compares Snap\u2019s video experience\u00a0to Alexander Graham Bell\u2019s\u00a0invention of the telephone. \u201cSnapchat really tapped into that human desire to communicate in a way that feels like its face-to-face even if you\u2019re far way.\u201d<\/p>\n
With co-founder and CTO Bobby Murphy, the two reflect on the early days of a company and why they felt that photos should \u201cdelete by default.\u201d \u00a0Spiegel said that because the photos vanish, \u201cthere isn\u2019t pressure to feel pretty or perfect. Self-expression isn\u2019t a contest.\u201d<\/p>\n
But it wasn\u2019t long before they took some digs at other social media\u00a0and how their mission differs. In what seems like a reference to Facebook, Snap\u00a0said they were inspired to create its \u201cstories\u201d feature, partly because they didn\u2019t like how other news feeds were in reverse chronological order.\u00a0\u201cYou were always scrolling backwards through a story and that didn\u2019t really make sense to us.\u201d<\/p>\n
This is a sensitive topic for Snap. Facebook-owned Instagram recently copied \u201cstories,\u201d which seemingly put a damper on Snap\u2019s growth.<\/a><\/p>\n Snap\u00a0suggests\u00a0that \u201cbigger isn\u2019t better,\u201d when it comes to number of friends on social media, another likely aim at Facebook. They emphasized that Snap users tend to add fewer friends\u00a0on the app, which makes for a more intimate experience.<\/p>\n The video also reiterates Snap\u2019s usage numbers, where they claim more than 60% of their 158 million users\u00a0are on the app everyday, on average logging in 18 times\u00a0or 25-30 minutes per day.<\/p>\n The\u00a0video\u00a0also talks about their road to profitability, which is likely a long way off.<\/a><\/p>\n