Snapchat’s $20 Billion greenback company Generated just $three.1 Million In revenue In 2014
August 19, 2015
Snapchat earned just $ three.1 million in earnings in 2014. Gawker’s Sam Biddle obtained his hands on the company’s image and it’s just about what everybody anticipated.
the corporate, valued at $ 20 billion, misplaced $ 128 million final yr and generated best $ three million. keep in mind the company earned $ 0 in 2013. the biggest expenses, with the exception of payroll, had been $ forty seven million spent on product and $ 13 million for a line item titled “outdoor products and services.”
the corporate has managed to increase whereas spending below $ 1 million on advertising. Snapchat has relied on word-of-mouth promoting, viral advertising campaigns, and news studies to generate much of its interest.
the company didn’t attempt to generate income unless October 2014, this means that the corporate used to be earning round $ 1 million per thirty days all over early efforts.
Snapchat didn’t launch its revenue center often called uncover until January 2015.
When fb went public it generated $ zero in earnings and Foursquare managed just $ 2 million in its first revenue-producing year.
Snapchat has had struggles of its personal, the corporate lost COO Emily White and numerous other sales-side executives in its early march in opposition to profitability.
according to Snapchat’s 2014 stability sheet. the corporate has more than $ 320 million in cash-on-hand.