Snap Inc Will Never Be A Big Player
Snap Inc, The Company behind the teenagers’ beloved app Snapchat is reportedly making its own drone, after venturing into the hardware market earlier with its Snapchat Spectacles. It is also having it’s IPO this year which is expected to raise the company’s valuation to as high as $25 Billion. Despite all this, I firmly believe that Snap Inc Will Never Be A Big Player in the tech industry.
First of all, I don’t believe that Snapchat will be relevant for even the coming 5 years, It looks like more of a fad to me that will eventually pass. It’s trying too hard to be relevant and while I acknowledge that they have brought some innovative features like ‘Snapchat Stories’ to the app, Just how long will they have these hit features coming ?
Moreover, Their largest market consists of teenagers – The group of technology users that won’t hesitate even a second to switch if a new cool social network suddenly comes up. Teenagers are on Snapchat because their parents aren’t on Snapchat, but as parents adopt Snapchat, I presume Snapchat will become like Facebook (abandoned by most teens) , The only problem being that Snapchat’s majority users are teens, while Facebook’s majority users weren’t.
Now, As per its hardware ventures, I think we can all admit that Spectacles aren’t going to sell for too long (If they’re even selling currently). The rumoured drone it is making will most probably not be as competitive as major other companies like DJI.
Heck, Even their IPO isn’t looking too bright. People aren’t sure whether they would be selling the shares or ignoring it. I haven’t heard anything positive about their IPO and they might just end up disappointing themselves with their $25 Billion valuation projections.
While these are all based on assumptions, I still think that Snap Inc is trying too hard and it doesn’t have the culture or innovation to be as successful as other big giants. I think the best we can do is just wait and watch. I would be very glad if Snap Inc could prove me wrong on this one!
I would love to hear your opinions on Snap Inc! What are your views? Comment down below.