October 16, 2017 10:07 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, CEO, President & Director
Age: 26
Total Annual Compensation: $1.5M
Co-Founder, CTO & Director
Age: 28
Total Annual Compensation: $251.6K
Chief Strategy Officer
Age: 39
Total Annual Compensation: $5.5M
Senior Vice President of Engineering
Age: 36
Total Annual Compensation: $1.4M
Compensation as of Fiscal Year 2016.

Snap Inc. Key Developments

United American Corp Issues Cease and Desist Notifications to Corporations Using SnapChat Geofilters for Promotional Campaigns

United American Corp. announced that it will take further enforcement steps related to its patent infringement action against Snap Inc. regarding Snap's use of geo-location based filters which it markets as 'Geofilters'. On October 3, 2017 the iFramed technology for which UnitedCorp holds the technology rights to, received a Notice of Allowance from the US Patent Office under US patent application No. 15/240,515. UnitedCorp contends that the Geofilters used by SnapChat for photos and videos are based on iFramed technology and therefore are a direct infringement of the rights created by the Notice of Allowance). In June 2016 iFramed also received a patent in Canada the technology is patent pending in numerous international jurisdictions. Beginning October 5, 2017 UnitedCorp began issuing cease and desist notices to Snap corporate clients which use SnapChat Geofilters. Many major corporations such as The Walt Disney Company, Taco Bell and Starbucks use the Geofilters as a part of their promotional campaigns. While these companies may until now have been unaware of the situation, under US Law, (35 U.S.C. Section 271 (a) (b) and (c)) any entity which makes use of a patented invention even by a 3rd party, without authority can be held liable as 'induced infringer' since they ultimately contribute directly to the infringement. iFramed's U.S. Patent Application Publication no. US 2016/0359987, which was derived from International Application Publication No. WO2015/100496 filed December 30, 2014 and claiming a first priority date of January 3, 2014, was allowed by the USPTO and is scheduled to Issue within the following weeks. Corresponding Canadian Patent No. 2,887,596 issued June 14, 2016, and is the subject of an ongoing infringement dispute against Snap Inc. in the Federal Court of Canada. UnitedCorp will provide the companies it notifies, the opportunity to discuss various iFramed licensing options that would improve significantly their commercial exposure by permitting the use of overlays to all major social media sites simultaneously. UnitedCorp provides an array of licensing packages for sponsored geolocation-based image overlay picture and video filters through the iFramed app and which can be offered to sponsors on a pay per post or per user basis. The iFramed app provides a simple smartphone App to post users pictures and videos with a geolocation based sponsored overlay to Facebook, Instagram, Twitter, Youtube and soon to Instagram Stories.

Snap Inc.(NYSE:SNAP) added to S&P Global BMI Index

Snap Inc.(NYSE:SNAP) added to S&P Global BMI Index

Snap Inc.(NYSE:SNAP) added to S&P TMI Index

Snap Inc.(NYSE:SNAP) added to S&P TMI Index

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