GrowthHackingIdea - From 0 to $3B in 2 years (Snapchat)

Easy SOC 2

Your business needs SOC 2. But compliance is complex, time-consuming, and costly. Uncomplicate it.

Sponsored
Today's hack
From 0 to $3B in 2 years (Snapchat)

2 years after launching this app, 2 founders were offered $3 billion in cash for selling it.

What is the name of this app and how did they manage to achieve this?

Here's their story in short:

1. In 2011, Reggie Brown offered an idea to his college mate Evan Spiegel to create an app called Picaboo that would allow you to share self-destructing photos.

2. They hired Bobby Murphy as a developer to turn this idea into reality. In 18 hours the iOS app was up and running.

3. Evan pitched a panel of venture capitalists with their app and ... nobody gave a $#it.

4. They were talking about the app to all their friends and family. In a month they had only 127 users.


5. In September 2011, the app was relaunched as Snapchat.

6. When the number of users slowly achieved 1000 they noticed something interesting - activity consistently peaked between 9am-3pm. School hours.

Turns out Spiegel’s mother told her niece about the app, who then spread the word through her Orange County high school. Since Facebook had been banned at the school, students began embracing the app on the high school iPads.

7. That was the turning point. The founders focused 100% on the needs of children aged 8-12: new design (easy and fun), new mission, new purpose, new positioning, new tech. The modified concept included 3 main points:

7.1. Snapchat is more intimate and exclusive (you won't find outdated inappropriate content you'd wish nobody knew about).

7.2. Snapchat is perceived as young and cool (you won't find your grandma here).

7.3. Snapchat allows you to not worry about self-censorship (self-destructing photos).


8. The owners shared the iPhone app with educational institutions and schools across California.

9. By January 2011, they had 20,000 users. By April, 100,000.

10. In April 2012, Lightspeed invested $485,000 at a valuation of $4.25 million.

11. Word-of-mouth got Snapchat featured in large industry publications including the New York Times and TechCrunch, generating a ton of free publicity that quickly spread the app across the country.

12. In June 2012, they had 5 million users, in November - 14 million users.

13. In December 2012, Zuckerberg launched Poke - that was supposed to kill Snapchat. But that didn't happen. Poke fell off the iPhone app store charts.

14. In 2013, Zuckerberg offered $3 billion in cash for a two-year-old Snapchat app with no revenue and no timetable for revenue (the founders declined the offer).

Source: www.forbes.com


Cheers,
Charlie Patel ;)

Want to hang out with fellow growth marketers and SaaS founders who love amazing deals. Join the FB Group


Your friend wants to get access to our invite-only community of growth hackers from companies like Uber, Google, Microsoft, TechStars, Disney, Adobe, Coca-Cola, Amazon, etc.? Here's your personal invitation link for him/her: http://e.growthhackingidea.com/?ref=2145324&a4=1&a5=9



Unsubscribe | GrowthHackingIdea / StartupGrowth.com | 1460 Broadway New York, NY 10036

Older messages

3x more people remember your message (easy)

Thursday, May 12, 2022

Today's hack 3x more people remember your message (easy) Have you ever wanted your visitors/customers to remember/do what you tell/show them? Always. :) There was an interesting study conducted

9% more sales (easy)

Tuesday, May 10, 2022

Today's hack 9% more sales (easy) Do you remember this principle - people don't buy from companies, they buy from people they believe and respect. Neil Patel once decided to test this principle

From living in a car to $1.4M in 5 months

Monday, May 9, 2022

Today's hack From living in a car to $1.4M in 5 months Taro Fukuyama and 2 of his friends from Tokyo arrived in San Francisco. They had to sleep in a car. Their English was not good. But they

2 words that decrease CPC by 2 times

Sunday, May 8, 2022

Today's hack 2 words that decrease CPC by 2 times Would you like to decrease your cost per conversion by 2.58 times? Sure you do. :) This is exactly what AdEspresso managed to achieve with just 2

From 0 to $100 million in 37 days

Saturday, May 7, 2022

Today's hack From 0 to $100 million in 37 days In January 2013, Gentry Underwood launched an email app called Mailbox. 37 days later Dropbox acquired it for a reported $100 million. How? 1. They

The Musk-Twitter 💩 show

Wednesday, May 18, 2022

Also in today's edition: Digital platforms under CCI's gaze; Shell out more for budget smartphones; To be super Uber app; Reliance wants the beauty aisle ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

From $21,988/mo to $236,078/mo

Tuesday, May 17, 2022

in less than 3 weeks! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Case Study | 51.28% Boost in Sales in 3 Months w/ these strategies

Tuesday, May 17, 2022

A case study by Carl Weische on increasing conversion using CRO & A/B-Testing͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌

How Monitoring Software Can Boost Productivity

Tuesday, May 17, 2022

The benefits of employee monitoring software business.com Your Small Business Resource Hub From financial tips to leadership advice, business.com offers the best guidance for small businesses. View the

May 17 - Inflation hits Walmart's profits | Retail sales up over 11%

Tuesday, May 17, 2022

Consumers were undeterred in April, sending retail sales up over 11%; Google opens second retail store; Bark taps former Nike, Weight Watchers exec as chief marketing officer; Target to award $25M in

European VC valuations take flight

Tuesday, May 17, 2022

Latin America's most active VCs; Infinity Ventures raises $158M fund; Optibus drives away with $100M; Metatheory scores $24M for Web3 games Read online | Don't want to receive these emails?

8 types of infographics and how to make them

Tuesday, May 17, 2022

The Content Marketer Today, we're sharing an infographic (+ article) about infographics, explaining how to put together an email newsletter, looking closely at 11 specific types of marketing you

May 17 - Why Burger King's rivalry with McDonald's sizzles | Cheez-It, Pandora produce 'sonically-aged' snack

Tuesday, May 17, 2022

Cheez-It taps Pandora to produce 'sonically-aged' cheddar crackers; Target to award $25M in paid media to diverse brands; Mattress Firm wants listeners to rest easy with new podcast as audio

Non-Dilutive Funding Becomes Incredibly Important During Market Downturns

Tuesday, May 17, 2022

Listen now (6 min) | To investors, Asset prices have been drawing down in every market over the last few months. You can see it in stocks, bonds, real estate, commodities, and crypto. There have been

The Sprout Social Index has arrived

Tuesday, May 17, 2022

Let's break down the latest trends in social. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌