Picaboo! Another Pitch Deck Teardown: Snapchat

Humble Beginnings:

Back in 2011, Reggie Brown, a Stanford student, was just hanging out in his dorm with his friends, talking about girls… you know normal college guy things-when an idea struck him.

It was here that he thought of the brilliant idea to make photos disappear after a short time. Excited about his concept, he shared it with his friend Evan Spiegel, who immediately embraced the idea and incorporated it into one of his design class projects, naming it "Picaboo."

As you could guess, the name “Picaboo” was a playful twist on the childhood game Peek-a-boo.

Now, the early prototype showed some promise. However, they faced a crucial challenge - they needed someone skilled in coding. After encountering a few rejections, they eventually convinced Bobby Murphy, thanks in part to Evan Spiegel's persuasive efforts, to join their team and handle the coding aspect.

34 attempts later, they finally struck gold.

While Reggie Brown, Bobby Murphy, and Evan Spiegel had the concept, their initial attempt to implement it as a webpage didn't quite work out. They quickly realized that turning it into an app would be more user-friendly, private, and thus more likely to gain widespread use.

As for the famous app mascot known as "Ghostface Chillah," Reggie Brown pulled inspiration from Ghostface Killah of the hip hop group Wu-Tang Clan.

After multiple prototypes and refinements, Picaboo was officially born in July. Still don’t know how i feel about that name.

Thankfully it was short-lived. Following a cease-and-desist letter from a photo-book company that used the name "Picaboo," Spiegel later rebranded the app as Snapchat.

"Snapchat" perfectly encapsulated the app's core idea of sending short-lived snaps that disappear after being viewed.

Good Things Take Time

Now Snapchat wasn’t immediately snatched up by Giants in the industry, but instead, early funding came from various sources, including personal investments from the co-founders themselves and some external investors.

Over the years they accrued more and more high-profile investors as the app began to take off.

For example in 2012, Snapchat secured its first significant external funding from Lightspeed Venture Partners, a prominent venture capital firm. They invested $485,000 in the company, contributing to its initial growth.

As time went by more and more investors noticed their potential and they then received $13.5 million from Benchmark Capital helping accelerate their expansion and development. Followed by $60 million from IVP and eventually $20 million from Yahoo.

While Snapchat's funding journey has been complex and included various rounds of funding from several investors over the years. As the platform gained popularity and its user base expanded, additional investors joined subsequent funding rounds, further supporting the company's growth.

Snapchat has undoubtedly emerged as a dominant force in the world of multimedia messaging and social media.

Can the key to its remarkable success can be attributed to a captivating pitch? Is that what captured investors' attention and propelled Snapchat to unparalleled heights?

Let’s find out!

About Us

First things first in this pitch deck, investors need to know who they are investing in. Although I believe there is far too much text on this pitch deck slide it is still helpful as it provides essential background information about the company, its founders, and its mission, helping potential investors understand the company's identity and vision.

Without it, we would be left wondering about Snapchat's origin, achievements, and long-term goals. This establishes credibility and trust, which are vital aspects in attracting investors and securing funding.

Philosophy

Every great company has a great philosophy, and Snapchat is no exception.

If you don’t know by now, Snapchat’s main philosophy is “Delete is our Default.” This phrase was the whole idea behind the product and led it to where it is today.

By highlighting this investors are aware of the company's core values, mission, and unique approach, helping them connect with Snapchat's vision and purpose on a deeper level.

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