Category Archives: Social Media App

How Facebook Continues To Make Money Despite Its Success

It is pretty amazing to think that a social network as large as Facebook is able to still think up new ways to make money. Many believed that in its early days it was going to be just another fly by night social network that disappeared as we all forgot that it even existed at any point. That obviously is not what happened and in fact the network only continues to grow.

 

Facebook is huge and continues to add new users according to CNN Money. Some 1.59 billion people now use the website every month. That is up in recent years as the company continues to find people who are not on Facebook who then create profiles. It is almost hard to imagine, but that means that Facebook profiles exist for more than 1 in every 7 people on Earth.

 

Facebook continues to add new features that a lot of people like at the end of the day. Even though it seems that every time Facebook adds a new feature it is panned by the public in general at first, the numbers show that people come around, or at least that they are not willing to delete their Facebook over it.

 

Some of the new money making features that are available today are the features that allow one to hide posts from the exes as well as live video streaming and more advanced search features.

 

New features have made it possible for Facebook to keep users on the site for longer periods of time and to learn more about those users. This means that they can more accurately tailor the ads they show to those users. That helps Facebook to earn more money and makes for happier advertisers as well. You definitely want to have happy advertisers if you are a website that relies on that income. Facebook has done a masterful job of this and has achieved its goal of making the world a more connected and open place.

 

Timehop CEO Replaced By Its Lead Designer

Social media application Timehop has recently undergone a major shake-up in its corporate structure. For the uninitiated, Timehop is a reminder service for content people have posted to various social media outlets. Jon Wegener, co-founder and CEO of the company, has descended from the corporate position in order for the application’s lead designer to take over. This shake-up also has Rick Webb, an early investor with the company, ascending to COO. Wegener commented that these changes reflect a long-term plan to step away from his corporate role, rather than any calculated measure to jump ship.

 

Timehop was established back in 2011 in an extension of its founders’ coding during a Foursquare hacking event. After working at Techstars for a while, the two decided to turn their hack into a business after discovering how well it was received. After integrating Facebook and Instagram, Timehop became a social media reality. The app has missions of users that have turned to it as an alternative to Snapchat’s fleeting offerings.

 

In March of 2015, right as Timehop had reached 12 million downloads and a daily userbase half as large, Facebook installed its own version of the app via the “On This Day.” Furthermore, Timehop’s mobile userbase has continued to dwindle at a steady pace, reflecting a nearly-40 percent drop between the fourth quarters of 2015 and 2016. This seems to indicate that Timehop had been more reliant on loyalty and engagement than other apps, with the decline endemic of new users having bad experiences and leading to a ripple effect of disuse and abandonment.

 

With its new executive team in place, Timehop is working to raise profitability at a slow but sure pace. One year after Facebook’s introduction of On This Day, it maintained 60 million daily users and more than 150 million subscribers.

 

How Instagram Became the Best Social Network for Branding and Marketing

Social media marketing is something that business owners should not overlook these days; however, not all social networks offer the same advantages when it comes to branding opportunities.

 

For many years, Facebook and Twitter stood as the best networks for marketing and advertising. By 2015, photo and video sharing network Instagram overtook Twitter in terms of active followers; this announcement prompted parent company Facebook to improve the account options for business users.

 

These days, Instagram offers the best branding experience for business owners and managers, particularly for those that operate in the retail sector. Business accounts get a full set of analytics and insights that allow them to see how their posts are performing, and the Sponsored Stories option works even better than on Facebook due to the greater amount of engagement.

 

One of the reasons Instagram has become a great network for branding is that users have transformed the hashtag system into a powerful directory of interests that is fully searchable and dynamic. Another reason is that the network decided to extend the length of its video sharing option from 15 seconds to one minute. Some brands are already taking advantage of this new length by creating a long Facebook Live video and editing it down to 60 seconds to share on Instagram.

 

In terms of competition, the youth-oriented social network Snapchat has been quickly gaining greater market share, and this is something that Instagram has reacted to with the launch of Instagram Stories. Similar to Snapchat, Instagram Stories allow brands to put together a slideshow that combines photos with video to create a more engaging advertisement.

 

 

SnapChat Is Believed To Have Signed SEC Filing For IPO

The initial public offering (IPO) for the popular social media company Snapchat is getting closer by the day. Wall Street reporters believe Snapchat executives have just officially filed for an IPO with the U.S. Securities and Exchange Commission (SEC). This was apparently done in strict secrecy on November 15th.

 

Snapchat is expected to be one of the biggest IPOs of next year. With news of this latest SEC filing, many Wall Street experts believe the IPO will come out in March of 2017. They also believe this company could have a value anywhere between $20-$25 billion.

 

When asked if rumors of this secret SEC filing were true, SnapChat executives declined to comment. New SEC rules allow companies with a revenue over $1 billion to legally file for an IPO with privacy.

 

SnapChat is a huge hit with younger social media users, with over 60 percent of their member base between the ages of 13-24. Currently, this social media company has over 100 million active users.

 

Although this is a very popular company, some Wall Street investors are concerned that the only source of income for the company comes from advertising. To combat this worry, SnapChat has been actively promoting itself as a camera company.

 

Besides their social media platform, SnapChat has also begun to sell their sunglasses this month. These glasses are able to connect to the Internet and to directly send various pictures to SnapChat. About 100 people lined up to check these sunglasses out in a vending machine the company set up near its headquarters in Venice, CA.

 

 

Hike Introduces New Social Media App

Indian social media company Hike has announced that it will be introducing a new app that is very similar to Snapchat. The Hike messaging app will give users the ability to post pictures with live filters and is aimed primarily at the Indian market where Snapchat has not had a major impact. Hike acknowledges that their product is similar to Snapchat’s, but they maintain that there are many important differences. TechCrunch has an excellent article about the situation on its website.

 

The story shows how once a technology company introduces a marketable concept – in this case Snapchat’s winning combination of images and text – other companies quickly start doing the same thing with only subtle differences. Perhaps the most famous case of this is Microsoft using the basic concept of the Netscape web browser in developing their own Explorer web browser.

 

Of course, a major factor in who ends up profiting from a good technology concept is who has the money to get it on the marketplace on a massive scale. In this case, Snapchat is doing fine making money from their own concept, but Instagram and other companies are as well. Sadly, as in the case of the Netscape browser, the company that introduces the basic idea sometimes loses out entirely. Of course, patent laws exist to protect intellectual property, but in an increasingly globalized and unregulated marketplace, these laws are not as powerful as they perhaps once were.