The 24-year-old entrepreneur dropped out of Stanford University three years ago, just three classes shy of graduating. In his 10-minute talk, Spiegel discussed why he didn’t sell Snapchat when Facebook reportedly came knocking. Less than three years after Spiegel and Murphy launched the ephemeral messaging app, Snapchat reports over 100 million monthly users and has transformed the way millennials and teens engage with one another to the extent that Facebook not only reportedly tried buying the startup, but also emulated it with a failed app developed in-house called Poke.
Snapchat CEO Evan Spiegel came full circle on Friday when he gave the commencement speech at the University of Southern California’s Marshall School of Business. The 24-year-old entrepreneur dropped out of Stanford University three years ago, just three classes shy of graduating.
“I’m asked one question most often,” Spiegel said. “‘Why didn’t you sell your business? It doesn’t even make money. It’s a fad. You could be on a boat right now. Everyone loves boats. What’s wrong with you?'”
Now, Snapchat is reportedly valued at $15 billion, despite all signs indicating it’s not earning significant profit yet. Read more…