[adventured]

You don't think a communication device used by hundreds of millions of people should be or potentially be worth billions of dollars? There are few things more important to people than communication.

I don't particularly like Snapchat, I do however entirely get why it's valuable. There's room to debate whether it's worth $5 billion or $15 billion, I don't believe there's any room for debate on whether it's worth billions. It has had its market value validated at or above those levels for years now, from VC to public investors. It has maintained a large userbase for years as well.

Snap also has 30-40 times the revenue of Canva, which makes the point about how lucrative those hundreds of millions of users can be.

[nkkollaw]

I think it's a little crazy how much it's valued.

These things come and go. I remember using Yahoo! Messenger...

[fastball]

Snapchat isn't a communication device, it's a communication service. Very easy for consumers to replace with the next fad that comes along, as it costs nothing up front and the opportunity cost to switch to a competitor is almost negligible.