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The Rise And Unforeseen Fall of Snapchat

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In 2011, when Snapchat was launched, users thought a photo sharing revolution was in the offing. It became the app of the moment, letting users live in the moment, with no permanent record of the pictures, unless one took a screenshot and made extra efforts to store the image. However, things didn’t work the way they were supposed to, neither for Snapchat nor for the users. A couple of years post its iconic launch, Snapchat started failing miserably. While Instagram was gaining momentum, Snapchat’s users started declining and experienced a massive downfall, becoming a cautionary tale rather than a revolutionary story. The question on everyone’s mind here is, what really happened to Snapchat to make it fail so miserably?

The rise of Snapchat 

A mere 3 years after its launch, Snapchat’s rise was exponential, to say the least. The photo sharing app quickly got over a 100 million users in its first few years and between 2015 and 2016, Snapchat had more than doubled its users, falling a little shy of 300 million on a daily basis. With numbers increasing faster than any other social media platform at the time, Snapchat’s rise to success made it obvious this was not just a fad, but a lasting movement.

What made the rise so impressive was that Evan Spiegel, the CEO of Snapchat and his team even started monetizing the app in creative ways. From acting as a platform that made the concept of influencers popular to convincing brands and celebrities alike that vertical videos were the next big thing, Snapchat was on the path to becoming a brand new trendsetter. To make sharing on this app all the more exciting, Snapchat introduced geofilters and started playing around with celebrity stories and creative placement of banners, monetization through this app was at an all time high. Users were happy, advertisers were happy and the core Snapchat team was ecstatic. Everything was falling in place perfectly.

The rise to fall of Snapchat 

Spiegel, as a CEO, was extremely effective. He knew what his core audience wanted and knew how to deliver the right things at the right time. Unfortunately, he didn’t have the resolve to see the bigger picture. One of the primary things which went wrong for Snapchat was they didn’t see the growth was necessary because it needed to be more than what people were doing. Spiegel refused to see beyond the data and to think beyond what was already there.

At the time Snapchat started falling, Facebook and Instagram were doing wonders. Facebook had switched their profile to timelines even before users wanted it and Instagram was upping its filter game every day. In fact, when Instagram launched its new “stories” feature (very similar to Snapchat’s existing format) in 2016, the move was in sync with Snapchat’s immediate fall.

What came as the final kick in Snapchat’s rear end was when Instagram its stories game by letting users add hashtags, geofilters, screen bursts and GIFs! Snapchat is failing to keep up the pace with the growing trends. Its revenues in the third quarter in the last fiscal have fallen by 18 %, with its users falling, instead of increasing. Every other social media app that has aped this app’s USP (Facebook and Instagram) is doing exceptionally well, essentially leaving this particular app in the dust.

Despite its very obvious decline into major disarray, Snapchat is trying to make a much needed change. Spiegel and his team are finally trying to create an interface usable not just by the younger generation, but by people above the age of 35 as well. Where is Snapchat’s future? Is it in the hands of really annoyed influencers (Rihanna, Chris Brown, Kylie Jenner) or will the team of Snapchat finally realise where the true future of Snapchat lies? What do you think is going to be Snapchat’s future? Comment and let us know!

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Entrepreneur Stories

Warren Buffett Most Inspiring Quotes

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Warren Buffett Most Inspiring Quotes,Startup Stories,Warren Buffett Quotes,Warren Buffett Motivational Quotes,10 Warren Buffett Quotes,Richest Man in World,10 Most Inspiring Quotes by Warren Buffett,Warren Buffett Latest News,Berkshire Hathaway CEO,Warren Buffett Success Quotes

The fourth richest man in the world, Warren Buffett is one of the greatest businessmen and investors of all time.  Known for succeeding in everything at which he tried his hands, Warren Buffett is an inspiration to many. Here are the 10 most inspiring quotes by the “Oracle of Omaha.”

 

Most inspiring quotes by Warren Buffett

1) About passion

2) About happiness

3) About expectations

4) About success

5) About spending

6) About the important rules of life

 

7) About reputation

 

8) About doing good

 

9) About investment

 

10) About greed and fear

 

From being a paper delivery boy, to becoming one of the richest men in the world, Warren Buffett is an absolutely inspirational figure.

 

Comment below and let us know which of these quotes by Warren Buffett inspired you the most. 

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First Jobs Of Famous Billionaires

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First Jobs of Famous Billionaires,Startup Stories,Famous Billionaires Jobs,Billionaires First Jobs,5 Famous Billionaires First Jobs,Billionaires Success Stories,Billionaires Working First Jobs,Billionaires Jobs,Top Billionaires First Job

The success stories of many billionaires around the world inspire many people of our generation and have, on several occasions, ignited a desire in many to start their own business.  However, many of these successful people began their career by working ordinary jobs. Let’s look at 5 such successful people, who started their career by working some very ordinary jobs.

 

First jobs of famous billionaires

1) Warren Buffett

Warren Buffett is the CEO of Berkshire Hathaway and is often referred to as the “Oracle of Omaha.”  However, this American business magnate started his career by selling Coca-Cola bottles, chewing gum and magazines door-to-door.  At the age of 13, he became a newspaper delivery boy and made $ 175 a month, delivering The Washington Post.  He continued to look for other business ventures and accumulated savings of $ 9,800 by the time he finished college.  Now, with a net worth of $ 82 billion, he is the fourth richest person in the world.

2) Michael Bloomberg 

Michael Bloomberg, who founded the financial, software, data and media company Bloomberg L.P., worked as a parking lot attendant when he was young.  Born to middle class parents, Bloomberg worked in a parking lot to pay his tuition fees in college and went on to graduate from Harvard Business School.  Now a well known philanthropist, Michael Bloomberg is one of the richest people in America, with a net worth of $ 53.5 billion.

3) Oprah Winfrey

Oprah Winfrey is a well known media mogul and entrepreneur, who worked as a grocery store clerk in Nashville to support herself.  She then landed a job in radio at the age of 16 and worked her way to the top, eventually owning her own production company. Now, with a net worth of $ 2.6 billion, she is considered one of the most influential women in the world and is a source of inspiration to many.

4) Li Ka Shing

Li Ka Shing was the former chairperson of CK Hutchison Holdings and CK Asset Holdings and is one of the most influential entrepreneurs in Asia.  Coming from a poor family, he started his career as an apprentice at a watch strap factory when he was 13 years old and at the age of 19, became the general manager of the factory.  He later started his own plastic manufacturing company and used the profits from the company to invest in real estate. Li slowly worked his way up the ladder of success and is now one of the richest people in Hong Kong, with a net worth of $ 27.1 billion. 

5) Mark Cuban

Mark Cuban is an American Shark Tank investor, co founder of Broadcast.com and owner of the American basketball team Dallas Mavericks.  Cuban began working at the age of 12 as a door to door garbage bag salesman. After graduating college, he worked as a bartender and then as a salesman for a software company.  He started his own company, Broadcast.com, after getting fired from his job and now has a net worth of $ 4.1 billion.

 

It is true, starting at the bottom does not guarantee success.  However, if you find your passion and work hard towards it, nothing is impossible, as the aforementioned individuals proved.

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JRD Tata Unknown Facts

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Tata Group, which began in 1868, has had six chairmen until now.  Among the six men who served this renowned business group, there was one exceptional man who served as its chairman for 50 whole years and took the Company to great heights.  Yes, the man we are talking about is none other than Jehangir Ratanji Dadabhoy Tata, or JRD Tata.  

From starting India’s first ever international airline, to giving the Country one of its largest cosmetic brands (Lakmé,) this gentleman has done it all.  JRD Tata also strived his best to improve India’s economy on the whole. Here are some unknown facts about this exemplary industrialist. 

 

Unknown facts about JRD Tata

 

1) JRD Tata was born on 29th July, 1904 in Paris and had a French citizenship for a long time.  He even served as a part of the French Army for one year. 

2) In 1925, he entered the Tata Group as an unpaid apprentice. 

3) JRD Tata was always keen on flying and became India’s first licensed pilot in 1929.  

4) In 1929, JRD Tata also renounced his French citizenship and took up Indian citizenship. 

5) In 1934, JRD Tata was elected as the Chairman of the Tata Group.  He was only 30 years when he was elected for this position, making him the youngest person to head the Group. 

6) When he was appointed as the Chairman, the Tata Group had 14 companies under it.  JRD Tata expanded it to an empire of 95 companies in a span of 50 years. Some of the most renowned companies established by JRD Tata during his tenure as the Chairman include Tata Motors (1945,) Lakmé (1952,) Tata Tea Limited (1964,) Tata Consultancy Services (1968) and Titan Industries Limited (1987.) 

7) JRD Tata was the person who launched Air India International, India’s first ever international airline.  For this reason, he is also known as the ‘father of Indian aviation.’ 

8) JRD Tata was the man who initiated the ‘employee welfare schemes’ in India.  He is responsible for the 8 hour work day, free medical aid and the employee provident fund.  These principles were later adopted by the Indian Government. 

9) It is no surprise this man received several awards during his lifetime.  His awards include the Padma Vibhushan (1957) and the Bharat Ratna, India’s highest civilian award (1992.)

10) When JRD Tata died in November 1993, the Indian Parliament was adjourned in his honour. 

Which of these facts about JRD Tata surprised you the most?  Comment below and let us know. 

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