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The Snap Chat Application

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Snapchat - for those of you who are over 25 - is a wildly popular mobile app that lets users communicate by sending each other photos which automatically delete after a few seconds. The app was made by Mr Spiegel and only launched in September 2011, and while he is not giving out any numbers, he says it is now on a quarter of all UK smart-phones, which means as many as seven million British people may be Snapchatting.

Recently, this 23 year old guy is reported to have rejected a $3 billion takeover offer from Facebook. Evan Spiegel, founder of Snapchat, could be the next dotcom billionaire from central casting - but only if he's right that people will pay for a social media experience.

The Snap Chat Application

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