Snapchat’s Staying Power
Despite being a picture-messaging app whose missives disappear in seconds, Snapchat made clear that it wants to stay on the tech scene for years to come.
Invented by fraternity brothers at Stanford University in 2011, the start-up is still profitless, but it hasn’t lacked for buzz in 2013—or controversy. In February, Snapchat achieved the ultimate start-up status symbol by being embroiled in a lawsuit by a spurned frenemy named Reggie Brown. He claimed that founders Evan Spiegel and Bobby Murphy stole the idea from him, in a Social Network-esque lawsuit. Read More