February 27, 2017 2:11 PM ET

Software

Company Overview of Snap Inc.

Company Overview

Snap Inc. operates as a camera company. It offers Snapchat, a camera application that helps people to communicate through short videos and images. The company also provides a suite of content tools for partners to build, edit, and publish snaps and attachments based on editorial content; and Spectacles, which are sunglasses that capture video from a human perspective. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Venice, California.

63 Market Street

Venice, CA 90291

United States

Founded in 2010

1,859 Employees

Phone:

310-399-3339

Key Executives for Snap Inc.

Co-Founder, Chief Executive Officer, President and Director
Age: 25
Total Annual Compensation: $1.5M
Chief Strategy Officer
Age: 38
Total Annual Compensation: $5.5M
Senior Vice President of Engineering
Age: 35
Total Annual Compensation: $1.4M
Compensation as of Fiscal Year 2016.

Snap Inc. Key Developments

Discovery Communications, Inc. and Snap Inc. Announces New Deal to Develop Shows for Snapchat's Discover Platform

Discovery Communications and Snap Inc. announced a new deal to develop Shows for Snapchat's Discover platform. Shows are premium short-form mobile video produced exclusively for Snapchat. Under this agreement, the companies will produce new series created specifically for Snapchat's "mobile-first" audience as well as shows inspired by some of Discovery Communications' most captivating and beloved properties, such as SHARK WEEK and MYTHBUSTERS. The Shows are expected to debut for Snapchatters in the U.S. in the coming months. In addition to creating these unique Shows, the two companies also will collaborate to bring solutions to sponsors leveraging Snap's innovative advertising technology and formats and Discovery's world-class stable of advertisers.

Investel Capital Corporation Sues Snap Inc. to Invalidate Key Patent

Investel Capital Corporation announced it filed a lawsuit in U.S. federal court against Snap Inc. to invalidate a patent that is central to its revenue model of its product, Snapchat. Investel said it invented and owns the rights to location-based filters that Snap calls 'Geofilters'. Investel in August 2016 filed a patent infringement lawsuit against Snap Inc. in the Federal Court of Canada, and the court has ruled in favor of Investel on sufficiency of the claim to proceed. Snap Inc. officially filed for a U.S. initial public offering. The filing does not mention Investel's lawsuit, but it does describe how Snap Inc. agreed to pay $157.5 million to a man who asserted that Snap was 'using certain intellectual property that the individual jointly owned with the founders'. The suit was filed in the U.S. District Court for the Central District of California.

Snap Inc. Joins R/GA Marketing Tech Venture Studio With IPG

R/GA Ventures announced that Snap Inc. has signed on as the lead partner for the R/GA Marketing Tech Venture Studio with IPG. Taking place at R/GA's NYC headquarters, the program is focused on companies that are advancing the future of mobile marketing and advertising. Applications are encouraged from growth-stage and early-stage startups that are leveraging technology to improve the creation and delivery of mobile advertising. This includes but is not limited to companies focused on creating videos and other engaging mobile experiences, optimizing ad delivery, measuring data analytics, and applying AI and machine learning concepts to marketing. Up to ten startups will be selected to participate in the program. As with all R/GA Ventures programs, R/GA will provide each company selected for the R/GA Marketing Tech Venture Studio with its product development, business transformation, marketing, branding, design, and technology services. Additionally, each company in the program will collaborate with and receive feedback and guidance from senior product and strategy leaders within Snap Inc. The program will also provide access to experts from across the full range of IPG operating companies as well as access to the global networks of R/GA and IPG including clients, industry partners, mentors, and investors.

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