In Snapchat's case, it wasn't two ousted cofounders (the Winklevoss twins) against Mark Zuckerberg. But still, it featured the backdrop of an elite university — Stanford versus Harvard — and ended up in litigation, with Snapchat cofounders Evan ...and more »
An early photo of Evan Spiegel and Bobby Murphy.Snapchat
Snapchat's beginning sounds a lot like Facebook's from "The Social Network."
In Snapchat'sÂ case, it wasn't two ousted cofounders (the Winklevoss twins) againstÂ Mark Zuckerberg. But still, it featured the backdrop of an elite university â€” Stanford versusÂ Harvard â€” and ended up in litigation, with Snapchat cofounders Evan Spiegel and Bobby Murphy against Reggie Brown.
At stake was the founding story of a social network to make photos disappear. Snapchat's founders ended up payingÂ $157.5 millionÂ to settle the case.
Snapchat survived its rocky starts to make its debut on Wall Street, where it closed on Friday with a $31 billion market cap.
Here's how Snapchat went from a million-dollar idea about disappearing photos to the giant social media company called Snap today:
Like many other startups, ground zero for Snapchat's story is Stanford University, where a young Evan Spiegel from Los Angeles befriended Reginald (Reggie) Brown. The pair decided to join Kappa Sigma fraternity â€” where they would meet Snapchat cofounder Bobby Murphy â€” although it would be a few years before they turned the idea of disappearing photos into a business.
Stanford University's Kappa Sigma fraternity houseBusiness Insider/Alyson Shontell
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