Wall Street’s new biggest story: Tim Story, founder of Snapchat, joins @WSJ
By TIM STORYAUBURN, Mich.
— Tim Story took the plunge and bought his first company on the eve of the financial crisis and has kept it going for 15 years.
The New York Times Magazine cover story on him on Thursday features the line: “He was the first to use Snapchat to capture the moment of a momentous occasion.”
Story’s company, Snapchat, has been at the center of an avalanche of attention since it went public on Oct. 1, 2011, and now is valued at more than $50 billion.
The company has more than 2 billion users and is widely used by millennials, many of whom are searching for news and video content.
Snapchat was founded in 2008 by two friends, two students, one of whom is the former Snapchat CEO Evan Spiegel, in a dorm room in Stanford, Calif.
Spiegel is now Snapchat’s chief executive.
“He’s one of the most remarkable people I’ve ever met in my life,” Spiegel said in an interview on Wednesday.
“He’s got such an amazing perspective on the world and on business.
He’s really smart.”
Snapchat was founded by two buddies, two friends.
They spent the summer at Stanford.
The idea of creating a messaging app in a room with one person on the other side of a wall came to them in a coffee shop.
Spiegel had always been a big fan of film, and he wanted to create something that would allow people to share their favorite moments, Spiegel said.
“I didn’t know how I could make it work,” he said.
In an interview in his office, Spiegel showed off his company’s logo, the “F,” with a square and arrow pointing down.
He had made up the symbol to represent a circle.
He said he chose the word “fear” because it felt “cool” to be in a “fearsome situation.”
“It’s not fear.
It’s a little bit like the square and the arrow,” Spiegel told the magazine.
“It’s like the F word in Latin, which means fear.”
SnapChat’s founders and employees, Spiegel and co-founder Jack Dorsey, have since become the most powerful people in the world.
They also have the highest profile of any company on Wall Street.
They have been dubbed the “world’s most valuable” for years.
Their popularity is part of what has led to a frenzy of acquisitions.
Snapchat had $21 billion in sales in 2015, a number that has climbed steadily.
This year, the company has been valued at $70 billion.
It also has a large presence on the web.
The companies have had a tumultuous history.
Spiegel resigned as Snapchat’s CEO in September, after the company’s investors failed to raise $20 billion in funding.
He then went to a private equity firm, Kleiner Perkins, to try to raise more money, but investors didn’t respond to his overtures.
The two men said they parted ways.
Dorsey has been in charge of Snapchat for nearly three years.
He is the second chief executive in the company.
Spiegel joined in June.
He took over from Spiegel after Spiegel was ousted from the company in November 2016.
The pair launched Snapchat in 2014, but they had little experience.
They sold it to Facebook for $1 billion in December.
The social network has been criticized for not making its service more widely available, which is what they had hoped to do.
In January, Facebook removed the ability to delete photos.
Snapchat has been plagued by a series of issues, including a series in which people were sharing inappropriate content.