Snapchat outage shuts out sheltering consumers for hours

SAN FRANCISCO - The Snapchat application popular with young smartphone users went offline Wednesday for undetermined reasons, the company said.

The outage, the cause of which was not explained by the company, lasted several hours, making unavailable the service known for its disappearing messages and other content.

"We're aware many Snapchatters are having trouble using the app. Hang tight - we're looking into it," said a tweet from Snapchat Support.

The first reports of the outage came around 1330 GMT, according to the monitoring website Downdetector.

Around 2030 GMT, a new message said the service was restored.

"We've patched things up," the updated post said. "If you're still having trouble, please let us know!"

Parent firm Snap Inc. did not respond to a query about the outage.

It came as people worldwide were turning to social media for information and entertainment as they sheltered at home from the coronavirus pandemic.

Snapchat said last week it saw huge jumps in engagement with the app as a result of the crisis, with real-time communication up 50 percent in March.

To support the global COVID-19 relief efforts, Snapchat has launched a new augmented reality donation effort allowing users to donate to relief efforts through its "Snapchat Lenses," glasses designed for the app.

An image and video sharing tool especially popular among teens, Snapchat claims the app is regularly used by 75 percent of all 13- to 34-year-olds in the United States.

It has 190 million daily users -- about 60 million more than Twitter -- but is still operating at a loss.

rl/ft

Agence France-Presse

Snapchat redesign keeps it personal

SAN FRANCISCO - Snapchat on Wednesday unveiled a redesign intended to rev up use of the image-sharing smartphone application by focusing on personal interests instead of what friends post.

Parent company Snap has promised the redesign in a bid to make Snapchat more user-friendly in the face of competition from rival messaging apps, especially those fielded by leading social networking Facebook.

Snap changes included separate streams for posts or messages from close friends versus digital content from publishers.

Snap co-founder and chief Evan Spiegel outlined the service's approach in an online post, arguing that social medial "fueled fake news" because content designed to spread was not necessarily accurate.

"The personalized newsfeed revolutionized the way people share and consume content," Spiegel said.

"But let's be honest: this came at a huge cost to facts, our minds and the entire media industry."

Snapchat's approach is to rely on computer algorithms based on individual users' interests, not what is buzzing at the service, according to Spiegel.

"We believe that the best path forward is disentangling the two by providing a personalized content feed based on what you want to watch, not what your friends post," Spiegel said.

"We think this helps guard against fake news and mindless scrambles for friends or unworthy distractions."

The change is also intended to help publishers make money from their stories, according to Snap.

Early this month, Snap reporting a widening loss and user numbers that fell short of market expectations.

Revenue at the California-based company rose but its loss more than tripled in the quarter that ended September 30, according to an earnings release.

The number of people using Snapchat daily rose to 178 million in a 17 percent increase from the same quarter last year, according to the company.

Snapchat became popular among young smartphone users for its disappearing messages, often photos or video, but analysts say it needs to show strong growth to keep pace in the rapidly evolving social media sector dominated by Facebook.

Although Snapchat is best known for its smartphone messaging, it has also developed partnerships with numerous media outlets eager to reach its audience with news, video and other content.

Snap said during an earnings call that priorities in the year ahead will include increasing the number of users along with the kinds of content on the platform, as well as investing in augmented reality and machine learning.

source: news.abs-cbn.com

Snapchat parent Snap to raise up to $3B in IPO

SAN FRANCISCO - The parent of the fast-growing social network Snapchat filed public documents for a share offering Thursday, seeking to raise up to $3 billion in a keenly anticipated Wall Street debut.

California-based Snap Inc., which had earlier filed confidential documents for an initial public offering, was expected to be one of the biggest tech company IPOs in recent years with a valuation likely to top $20 billion.

In documents filed with the Securities and Exchange Commission, Snap said it took in $404 million in revenue last year but lost $515 million.

Snapchat, known for its disappearing messages, has become hugely popular with young smartphone users. But the company has recently been expanding its offerings to allow publishers to deliver content through the platform.

According to the filing, 158 million people use Snapchat daily, and over 2.5 billion Snaps are created every day.

Snapchat has partnerships with dozens of publishers and organizations, including one announced Thursday by the New York Times.

Snapchat said it expects to derive most of its revenue from advertising, where it will compete against rivals such as Google, Facebook and Twitter.

The company noted that since its inception it has been losing money and "may not achieve or maintain profitability."

SOCIAL MEDIA FATIGUE

Snapchat reportedly spurned a multibillion-dollar offer from Facebook, preferring to remain independent.

Snap's offering on the New York Stock Exchange is the largest for a technology company in the US since Chinese-based Alibaba listed in 2014.

The documents did not provide share pricing and noted that the amount to be raised could be revised before the market debut, which is likely to take place in March.

While some analysts say Snap has the potential to challenge Facebook, others say it could end up like Twitter, which consistently lost money and whose existence as an independent firm is in peril.

Global Equities Research analyst Trip Chowdhry advised investors in a note to steer clear of the IPO, calling the value of Snap "hyper-inflated."

"We are at the tail end of social-media boom - novelty is giving way to fatigue," Chowdhry said in the note.

"Durability is absent in SnapChat - it's the next Groupon, the next Zynga, the next GoPro, the next FitBit."

All of those company's lost luster after public debuts accompanied by high expectations.

Snapchat will be competing with throngs of smartphone apps for advertising dollars, the analyst reasoned.

The Snap IPO will be structured with different share classes, allowing co-founders Evan Spiegel and Bobby Murphy to control 88.6 percent of the voting rights.

SNAPCHATTER EDITION

Earlier Thursday, the New York Times said it would create a daily Edition for Snapchatters in the US, Canada and Australia based on its Morning Briefing, or summary of major news.

This will appear on Discover, the section of the Snapchat app where users can find content from media companies.

The Times cited data from Nielsen saying that Snapchat each day reaches 41 percent of all 18-to 34-year-olds in the United States, compared to just six percent for US network television.

The company last year hit the market with camera-equipped sunglasses called "Spectacles" and renamed itself "Snap" to show it was no longer limited to a single product.

The head of Sony's entertainment business stepped down Thursday to devote energy to Snap.

The free service launched in 2012.

Michael Lynton was leaving his job running the Japan-based company's pictures and music business as of February 2 to spend more time as chairman of the board of Snap Inc., Sony Corporation said in an earlier release.

An investor in Snap, Lynton has been on the board nearly four years.

He will stay on as "co-chief executive officer" of Sony Entertainment, working with Sony Corporation chief Kazuo Hirai to find a successor, according to the company.

source: news.abs-cbn.com

Snapchat to offer camera-equipped sunglasses in first hardware push

Snap Inc, the newly renamed parent company of messaging app Snapchat, plans to start selling camera-equipped sunglasses starting this fall, Chief Executive Evan Spiegel told the Wall Street Journal in an interview.

The sunglasses, dubbed Spectacles, will be sold via limited distribution for about $130, said Spiegel, who described the device as a toy.

The first hardware to be sold by Snap, the sunglasses will record video from the user's perspective in 10-second increments that can be synched with his or her smart-phone.

(Reporting By Christian Plumb, Editing by Franklin Paul)

source: www.abs-cbnnews.com

Fil-Am behind Snapchat among Forbes' 400 richest billionaires

MANILA - The Filipino-American co-founder of Snapchat has made it to the 2015 Forbes 400, which lists the 400 wealthiest billionaires in the US. [Forbes 400: http://www.forbes.com/forbes-400/]

Bobby Murphy, who co-founded mobile messaging app SnapChat with fellow billionaire Evan Spiegel, ranked 375th in the list with a net worth of $1.8 billion.

At 27 years old, Murphy is the second youngest billionaire after his partner Spiegel, who is only 25 years old.

Murphy grew up in Berkeley, California and is a graduate of Stanford University. His mother emigrated from the Philippines.

Snapchat was initially released in 2011 and now has a value of $16 billion.

Microsoft co-founder Bill Gates is still the richest American with a net worth of $76 billion.

Berkshire Hathaway chief executive Warren Buffett ($62 billion) and Oracle chairman Larry Ellison ($47.5 billion) is the second and third richest, respectively, according to Forbes.

Forbes said the 2015 edition of the list was harder than ever to join.

"The price of entry this year was $1.7 billion, the highest it’s been in the 34 years that Forbes has tracked American wealth. Last year it took $1.55 billion to make the cut. Because the bar is so high, 145 US billionaires missed the list," Forbes said.

source: www.abs-cbnnews.com

Snapchat expands 'replay,' for a fee

SAN FRANCISCO, United States - Snapchat is expanding its "replay" feature for those disappearing messages, giving users an option to get another look at three "snaps" for a fee of 99 cents.

The feature is the first by the popular social network to get revenue from its user base in addition to advertising messages introduced last year.

Snapchat has been offering users one free replay "and we've used it to relive those amazing moments... just one more time before they disappear," according to a blog post Tuesday from the California startup.

"But then we realized -- a Replay is like a compliment! So why stop at just one? Today, US Snapchatters can purchase extra Replays, starting at 3 for $0.99... They're a little pricey — but time is money!"

Users can get a second look at any message, but can do this only once per snap.

Snapchat in May said it raised $537 million in a new round of equity funding.

The vanishing-message service did not disclose who bought stakes in the Los Angeles-based company, which came at a price estimated to give Snapchat a value of more than $15 billion, according to media reports.

Snapchat has become a popular way for people to share videos or photos, and has nearly 100 million people using it each day, according to the company.

source: www.abs-cbnnnews.com

Snapchat has IPO plan: CEO

SAN FRANCISCO - The chief of vanishing-image service Snapchat on Tuesday said the company has a plan for going public with an offering of stock but did not reveal when it might happen.

"We need to IPO, we have a plan to do that,” chief executive officer Evan Spiegel said on-stage at a Code Conference in California when asked about the potential for an initial public offering of stock.

"An IPO is really important," he added, according to a live blog of the exclusive technology conference.

Snapchat rejected a $3 billion take-over offer from Facebook in 2013.

Earlier this year, news reports surfaced that Chinese e-commerce giant Alibaba committed to a $200 million investment in Snapchat that valued the Los Angeles-based company at $15 billion.

Spiegel acknowledged plans for a Snapchat IPO during a talk in which he agreed with the notion there is a tech industry bubble that will at some point burst, with low interest rates, easy money, and risky investments calling for a "correction."

Snapchat rocketed to popularity in the United States, especially among teenagers, after the initial app was released in September 2011.

Smartphone app Snapchat late last year began letting users in the United States send money to friends by simply typing dollar amounts into new "Snapcash" messages.

The new feature came from a first collaboration between Snapchat and Square, a mobile payments company headed by Twitter co-founder Jack Dorsey.

The new service was added as Snapchat worked to boost the money-making capabilities of its popular app, which sees messages disappear shortly after being viewed.

Snapchat has become a popular way for people to share videos or photos, and has nearly 100 million people using it each day, according to Spiegel.

Snapchat began weaving ads into the service last year.

source: www.abs-cbnnews.com

How this Fil-Am became 2nd youngest billionaire in the world

MANILA, Philippines - The Filipino-American co-founder of Snapchat is the world's second youngest billionaire on Forbes' Billionaire list.

Bobby Murphy, 26, is estimated to be worth $1.5 billion, according to Forbes magazine.

Baby-faced Murphy made his fortune from Snapchat, along with his friend Evan Spiegel, who at 24, is the world's youngest billionaire.

Snapchat is a popular temporary photo messaging app. It is currently valued at $10 billion and has 100 million users a month. Forbes estimates both Murphy and Spiegel have a 15 percent stake each in Snapchat.

Murphy, whose mother emigrated from the Philippines, grew up in Berkley, California.

Murphy and Spiegel met while they were students at Stanford University. They were both members of the Kappa Sigma fraternity.

Murphy was a mathematics and computational science major, while Spiegel was in the product-design program.

In an interview with Forbes magazine in 2013, Murphy said they "weren't cool (in college), so we tried to build things to be cool."

They first worked together to develop an online software called Future Freshmen, but it didn't take off.

For their next project, a fellow Stanford student and friend, Reggie Brown (who would later sue the company for ownership), came up with suggestion for an app to send disappearing photos.

Spiegel decided to tap Murphy, who had just graduated, to develop the app. It was originally named Picaboo.

After the company received a cease-and-desist letter from a photobook company of the name, they changed the app to "Snapchat." Spiegel called this the "biggest blessing ever.

"Evan and I got started Snapchat in the summer of 2011, basically understood that visual content that was the most engaging, interesting form of content there was. We wanted to create a way that would enable that to be a means of communication, rather than a piece of content around which communication actually happens," Murphy said during a Google Cloud Platform Live session in 2014.




Spiegel is the good-looking, outspoken public face of Snapchat, while Murphy, the chief technology officer (CTO), is the brains who developed the app.

Little is known about Murphy, who was described by Forbes, as the son of state employees from Berkeley.

"I’d describe him almost like a monk,” David Kravitz, Snapchat’s first employee, told Forbes in 2013. "I don’t think I’ve ever seen him upset."

source: www.abs-cbnnews.com

Snapchat now lets you record video while playing music

MANILA - Snapchat has finally figured out how to integrate music within its service.

The latest iOS update of the highly-popular photo messaging mobile application allows users to record video while playing music on a separate mobile app.

That way, no one will no longer need a second audio source, and music players will no longer automatically pause once users press the record button.

No word yet on when the update will be available to Android users.

Snapchat, the flagship app of the company created by Evan Spiegel and Bobby Murphy, recently made headlines after reportedly looking to raise money that would raise its valuation to $19 billion .

According to the report, the funding would would make it the third most valuable venture capital backed company in the world, behind Uber and smartphone-maker Xiaomi. --with a report from ANC Alerts

source: www.abs-cbnnews.com