Snapchat, beloved app of teens and investors everywhere
You may be a late adopter to Twitter or Instagram, but ask your kids and they'll tell you Snapchat is all the rage. The app that lets you send self-destructing messages to your friends is just two years old, but according to rumors, Snapchat has raised $200 million in venture capital.
"Snapchat has essentially found the zeitgeist for a younger demographic of people who have found the internet to be too public a place," says Om Malik, founder of the tech news site GigaOm.
Malik says love from privacy-seeking teens also means love from investors who think social networks are having their big moment.
"In the past, there used to be the old technology -- like semiconductors and optics. Now it happens to be these kind of social environments whether it's Instagram or Twitter or Snapchat," Malik says of today's investing environment.