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Snapchat is a multimedia messaging application that enables users to send and receive photos, videos, and text that automatically delete after an agreed-upon period. Launched by Evan Spiegel, Bobby Murphy, and Reggie Brown while studying at Stanford University at that time in 2011 when Snapchat first gained popularity among younger audiences due to its unique ephemeral messaging features - providing both privacy and spontaneity when sharing moments with friends.

Snapchat can be traced back to an early-2011 class project at Stanford University called Picaboo, in 2011. Evan Spiegel, Bobby Murphy and Reggie Brown came up with an app concept that allowed users to quickly send disappearing photos between mobile phones - initially named Picaboo it provided only a temporary platform that vanished after seconds or minutes had passed.

Spiegel and Murphy created their idea and released Picaboo as an app in July 2011, but it failed to gain much traction among users. Based on user feedback, Spiegel and Murphy continued enhancing the application before changing to Snapchat in September 2011 due to its core feature of instant image sharing which then quickly disappears - creating an instantaneous form of communication that was often short-lived.

Snapchat quickly captured the hearts and minds of young audiences with its disappearing message feature, becoming immensely popular with teens and millennials alike. In 2012, they introduced "Stories," which allowed users to collect photos and videos that would dissipate after 24 hours - creating an innovative form of social media storytelling.

Snapchat quickly expanded both in terms of users and venture capital investment, drawing considerable media coverage when they declined Facebook's $3 billion acquisition offer in 2013. Since then, they've continued innovating by offering features such as filters, lenses and geofilters to enable users to add creative touches to images or videos.

In March 2017, Snapchat Inc. completed an initial public offering (IPO), valued at more than $20 billion. While other social media platforms compete with Snapchat for user attention and their respective demographics, Snapchat remains relevant among younger demographics due to new features and updates being regularly implemented by Snapchat.

Snapchat has quickly evolved into an innovative multimedia messaging platform with numerous features - private messaging, group chats, Discover content from publishers and Augmented Reality (AR) experiences - making it an indispensable way of communication, self-expression and storytelling allowing users to share special memories with friends while creatively and expressively expressing themselves through AR experiences. Snapchat has quickly become an indispensable way for sharing experiences in creative and engaging ways while connecting directly to publishers for AR experiences.

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