Throughout the paper theoretical frameworks discussed during the course "Innovation in Services" at Bocconi University will be applied to describe and analyse the development of Snapchat as an innovative service. In the following the characteristics of Snapchat, its innovative features and evolution are introduced. The paper includes an analysis of the sectoral competitive environment, the demand and how it has influenced diffusion of innovation as well as prospects.
The company Snapchat Inc. was founded by Evan Spiegel and co-founders Robert Murphy and Reggie Brown in September 2011. Today, it delivers the most popular app among teenagers in the United States, and was valued by investors at $18 billion. In 2016, Snapchat Inc. changed its name to Snap Inc.. The evolution of Snapchat has gone from an instant photo messaging app to becoming a brand network, a marketing platform, as well as live stream media. In short, the platform has morphed into combining the best of social networks, magazines and television in an omni-entertainment app.
Table of contents
Introduction
Characteristics of Snapchat
Definition of the service
Main features
Market-creating capacity
Successfulness of the innovation
Business model evolution
Snapchat 1.0
Snapchat 2.0
Snap Inc. and the years to come
Novel dimensions of the service
Sectoral competitive environment
Means of appropriation
Existing competitors in the market
The demand
Diffusion rate
Target market and current and future customers
Perceived service quality
Concluding remarks
References
Appendix
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