No, Snapchat is not owned by or under Meta (previously known as Facebook). Snapchat is an independent company that operates the popular ephemeral messaging app of the same name.
Snapchat was created by Evan Spiegel, Bobby Murphy, and Reggie Brown when they were students at Stanford University in 2011. It quickly became popular as a messaging app where photos, videos, and messages disappear after being viewed. Snapchat has grown significantly since its launch and went public in 2017, but it remains an independent publicly traded company not owned by Meta.
Snapchat Company History
Here is a brief history of Snapchat and how it has remained independent from Meta/Facebook:
- 2011 – Snapchat is founded by Evan Spiegel, Bobby Murphy, and Reggie Brown as Picaboo, an ephemeral messaging app.
- 2012 – Picaboo is rebranded as Snapchat. The app continues to gain popularity, reaching 100,000 daily active users.
- 2013 – Facebook offers $3 billion to acquire Snapchat, but the offer is rejected. Snapchat launches Stories and introduces video messaging.
- 2014 – Snapchat expands features and reach, allowing users to chat, video call, and share stories publicly. The number of daily active users reaches 100 million.
- 2015 – Additional features like lenses and Discover are added to increase user engagement. Daily active users exceeds 200 million.
- 2016 – Snapchat begins branding itself as a camera company with the launch of Spectacles camera glasses and a continued focus on AR lenses and filters.
- 2017 – Snapchat goes public, trading on the New York Stock Exchange with ticker symbol SNAP. The IPO raises $3.4 billion with a valuation of $24 billion.
- 2021 – Snapchat reaches 500 million monthly active users worldwide with continued rapid growth.
As this timeline shows, Snapchat has remained independent from its early days. Its founders have resisted acquisition offers and taken the company public. Snapchat is not owned by Meta/Facebook today.
Differences Between Snapchat and Meta
There are some clear differences between Snapchat and Meta that highlight their distinctly separate operations:
- Snapchat is focused exclusively on its messaging app, while Meta owns multiple social media platforms including Facebook, Instagram, and WhatsApp.
- Snapchat is publicly traded under the stock ticker SNAP, while Meta is traded under the ticker META.
- Snapchat’s headquarters are in Santa Monica, California while Meta’s headquarters are located in Menlo Park, California.
- Snapchat had 347 million daily active users as of Q4 2022, while Meta’s family of apps had 2.96 billion daily active users as of Q4 2022.
- Snapchat generates revenue primarily through advertising while Meta has a more diversified ad-based business model across its apps.
- Snapchat’s core product features disappearing messages and Stories, diferentiating it from Meta’s platforms.
These differences make it clear that Snapchat and Meta operate independently as competitors in the social media space.
Reasons Snapchat Has Remained Independent
Here are some of the main reasons why Snapchat has remained independent over the years and not been acquired by Meta:
Strong Leadership Committed to Independence
Snapchat’s founders Evan Spiegel and Bobby Murphy have been committed to maintaining Snapchat as an independent company since turning down Facebook’s acquisition offer in 2013. They have shown no signs of wanting to sell to Meta or another company.
Different Corporate Culture and Values
Snapchat has focused on a more privacy-centric model and direct communication rather than an all-encompassing social media platform. Its corporate culture and the values of its leaders don’t align with Meta’s approach.
Strong User and Revenue Growth
Snapchat has achieved strong growth in daily active users and revenue, especially in recent years. This reduced the need to be acquired and enabled Snapchat to IPO and operate as a successful independent public company.
Innovation in AR and Mobile Technology
Snapchat has differentiated itself from competitors through innovative AR developments and mobile technology. Developments like Lenses and Spectacles reflect Snapchat’s focus on its standalone messaging service rather than Meta’s integrated model.
Valuable Target Audience for Advertisers
Snapchat’s large user base, made up mostly of younger demographics, is highly valuable to advertisers. Snapchat can generate strong advertising revenues independently and doesn’t rely on Meta for this key revenue stream.
The Future of Snapchat’s Independence
It is likely that Snapchat will remain independent from Meta in the foreseeable future. Snapchat’s growth trajectory, leadership, and clearly differentiated product should enable it to operate autonomously moving forward. However, the landscape can change rapidly in social media and tech. Some potential scenarios that could impact Snapchat’s future independence include:
- Another major tech company besides Meta makes a sizable acquisition offer that Snapchat’s leadership decides to accept.
- Snapchat struggles to continue growing or maintaining its user base, forcing it to consider an acquisition to remain viable.
- Meta makes an acquisition offer at a valuation Snapchat’s shareholders strongly support.
- Regulatory action mandates separation between Meta’s apps, leading Snapchat to be spun off.
- Snapchat brings on investors or board members who want to merge with or be acquired by Meta.
Barring a major shift in strategy, leadership, user base, or market pressures, Snapchat is likely to operate independently for the foreseeable future. But in the rapidly evolving social media landscape, no firm prediction can be made long-term.
Conclusion
In summary, Snapchat is clearly not owned by or under Meta today. It has remained firmly independent since its founding despite growth and acquisition interest from Meta. Snapchat’s differentiated product, corporate culture, leadership goals, and strong market position have enabled it to thrive as a standalone company. While the future is uncertain, Snapchat is poised to continue on its independent path moving forward as long as current conditions hold. But its destiny ultimately lies in the hands of leadership, shareholders, and users.