Snapchat is an instant messaging service that allows users to share photos and videos, or so-called Snaps. The images can be altered with filters and effects. Content is deleted automatically after viewing.
Snapchat was founded in 2011 and is used mainly by younger generations. Many companies and media outlets recognize the app's potential and are trying to reach the young audience with it.
There's a problem with Snapchat's valuation of $24 billion. The company doesn't deserve the money. That goes for all social media that rely on user generated content. Pay the people, says DW's Zulfikar Abbany.