We met Evan and Bobby, the founders of Snapchat, in March 2012. We were mesmerized. They had a vision for how disappearing photo messages would make people more authentic, more silly, more real in their communications with their friends. They only had a few hundred thousand installs at that time, but we could see from the data and from the way their users raved about it, how much Snapchatters loved Snapchat. It had become a part of their everyday lives.
We bought into Evan and Bobby’s vision and capability, and led their seed round. And we’re excited to see how Snapchat has fulfilled its vision at an incredible speed – today over 200 million snaps are sent every day! As Mary Meeker recently pointed out, Snapchat is driving most of the growth in photo sharing today.
This growth hasn’t escaped the attention of other investors, and today the company announced that IVP led a new Series B financing. We are participating, as we have in every round, because we truly believe. Snapchat has joined the relatively small number of companies that can be used as a verb. Congrats to Evan and Bobby and the Snapchat team, and also to Dennis at IVP and Jonathan Teo at General Catalyst. The company had a lot of options and chose these guys from a field of terrific investors.