Have you heard? Snapchat has been valued at $10 billion.
It’s an amazing number. You can’t quite believe it. After all, Snapchat is just a bit of fun, right? One of those silly apps that gets a ton of buzz before disappearing up its own hype.
You know, like Yo.
Except there’s a couple of things you need to remember. One, Snapchat is insanely popular now amongst the key 18-34 demographic, with college students in particular eating it up. And two, none other than Twitter CEO Dick Costolo has been singing Snapchat’s valuation praises. And if anyone knows about transforming a popular social product into one that can actually turn a profit, it’s Costolo.
“Snapchat at $10b not absurd,” writes Costolo on, where else, Twitter. “Crazy growth, clear monetization path, & one of the best social product thinkers out there. Long (figuratively).”
Snapchat at $10b not absurd. Crazy growth, clear monetization path, & one of the best social product thinkers out there. Long (figuratively)
— dick costolo (@dickc) August 27, 2014
Maybe Twitter should buy Snapchat? Maybe this is Costolo making an early play?
And who knows: maybe a year or two from now in this crazy, cockamamie world, we’ll be saying the exact same thing about Yo.