Image messaging and multimedia mobile application, Snapchat wants investors to know that it’s more of a “camera” company rather than an “app” company, as many would say. Its purpose of the camera is to change the way individuals talk to each other. “We believe that reinventing the camera represents our greatest opportunity to improve the way that people live and communicate,” stated Snapchat. “Our products empower people to express themselves, live in the moment, learn about the world, and have fun together.”
During a roadshow on Friday, the company anticipates shares to be valued from $14 to $16 ($19.5 billion to $22.2 billion). According to CNBC, in the video, Snap co-founder and CEO Evan Spiegel explained that initially many users didn’t understand the appeal of an app where all the photos would disappear. People eventually realized that disappearing images allowed people to be freer to express themselves in the moment, he said. “Rather than carry around all this baggage of everything you’ve done, you can be a new person, you can change,” Snap co-founder and CEO Evan Spiegel said in company’s roadshow video.
Without naming competitors, Spiegel said Snapchat’s content isn’t about presenting a curated life but a more immediate way to talk to others. “Self-expression isn’t a contest,” Spiegel said. “It’s not about how well you can express yourself. It’s about being able to communicate how you feel and doing that in the moment.”