The Iconic American Brands Are No Longer American

Snapchat, introduced by Evan Spiegel and Bobby Murphy in 2011, transformed silly photo filters into a craze, soaring to a valuation exceeding $20 billion. Its founders hadn’t anticipated the colossal popularity it would garner.

In 2017, Tencent invested over $2 billion into Snapchat for a 10% share, seeking a profitable return. This investment also allowed Tencent to contribute its technological prowess, particularly in augmented reality, enhancing Snapchat’s features even further.