“When we face uncertainty, we encourage everyone to press forward and believe in the values of the product.”

Evan Spiegel

Co-Founder & CEO, Snap

Source: Inc.

Why we invested in

Snap

As venture investors we are often reminded about the importance of believing in a founder’s thesis more than our own. This may have been particularly true when we first met Evan Spiegel and Bobby Murphy with Snapchat. A disappearing photo app with nearly anonymous users that would fundamentally evolve the way people communicated socially? It was an incredible vision for cameras + messaging — two things most people thought of as simple mobile phone utilities — but Evan and Bobby understood a different potential.

Headquartered in Los Angeles, CA, Snap (NYSE: SNAP) is the fastest way to share a moment with friends.

The company created a mobile application that allows users to share photos with friends (either one to one or one to many) that quickly expire over a pre-determined amount of time. The photos expire in between 1 to 10 seconds. Photos can also be annotated with typed text or drawings. Snapchatters have shared over fifteen billion unique images through the service since January 2012, making Snapchat one of the Top 10 apps in the iTunes AppStore.

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