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#22 How To Turn Down A Billion Dollars: The Snapchat Story
Founders
How Evan and Bobby Studied the Messaging Apps in Asia and How They Made Money
In 2012, Evan and Bobby had experimented with various ways to make users pay for add-ons and extra features in SnapChat. By 2014, SnapChat was burning over $100 million a year and Evan pushed harder to start monetizing the product. In August 2014, Mitch Lasky sent Michael Linton a note quoting a hedge fund manager about Asian messaging companies as the two SnapChat board members debated possible monetization strategies for Snapchat. It's using online to access goods and services offline. A good example in the US would be something like Uber, but in Asia it's way, way broader.
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