[bkjelden]

This is why I think their valuation is less absurd than it seems. Their rate of adoption among college age and younger demographics is astounding. Way faster than facebook, or twitter, or any other social network was adopted.

I think a lot of people are skeptical because the concept seems really dumb. But I've just kind of accepted that social networks get popular for very subtle reasons, some of which are non-technical.

Building a social network seems to be more of an art than a science.

[notahacker]

Most people are sceptical for the simple reason that the social networks that shed most of their user base long before ever threatening to make a reasonable profit actually had far more lock-in. If Snapchat's user base - a demographic not exactly noted for their long attention spans - gets bored or sick of ads once Snapchat actually manage to sell them in significant numbers, they're not leaving anything behind when they download the next flavour of the month.

The terms attached to this probably make their chance of selling out to Facebook for ~$20bn slim too.

[lotso]

Couldn't you have said the same thing about early Facebook?

[notahacker]

Early Facebook had the facility to get in touch (or stalk!) people I had no contact details for provided I knew their name, and check out upcoming party details, not mention a photographic record of my university life complete with comments and status boosting likes. Facebook didn't need to remain cool to be relevant and useful, and I logged in far more often than someone sent me an actual message from the service - still do a decade on.

Snapchat is a messaging app which distinguishes itself from the other messaging apps users also have installed on their phones by the fact it doesn't preserve any past interactions. Much like when I stopped bothering to log into MSN Messenger because people sent me messages in other ways, it dies in the eyes of its users once the daily updates stop, or even more quickly if the daily updates become near-exclusively advertising of the unwanted kind

[tedunangst]

Perhaps, although snapchat is deliberately oriented towards a lack of history. I could move my messaging off facebook easily enough, but photo albums of vacations less so.

[untog]

This is why I think their valuation is less absurd than it seems. Their rate of adoption among college age and younger demographics is astounding.

Yep. But at the same time, there's no reason to think that these teens might also adopt a new app just as quickly if it were to come along.

[chrischen]

Smartphone and technology adoption is higher than it was in the 2000s. Most new social networks will be adopted faster than Facebook was in the early 2000s. I believe even Pinterest at a point was "growing faster than Facebook."

[tedunangst]

One factor that probably affects rate of adoption is smartphones. It's much easier to actually observe your friends in the act of social networking.