Snapchat is a well-known social media platform that has gained a huge following in recent years. However, the question remains: was Snapchat on Shark Tank? The hit TV show features entrepreneurs pitching their businesses to a panel of successful investors known as the Sharks. Read on to find out if Snapchat was one of the companies that took a chance on the show.
Shark Tank is a reality TV show where a group of rich and ruthless “Sharks” mercilessly tear apart the dreams and ambitions of hapless entrepreneurs. It’s kind of like a business version of the Hunger Games, except instead of fighting to the death, participants are fighting for funding and mentorship. Just kidding! Shark Tank is actually a great opportunity for entrepreneurs to showcase their ideas and potentially secure funding and partnerships to help grow their businesses.
So, the big question remains: was Snapchat on Shark Tank? Did it ever pitch its business to the Sharks? To fully answer the questions, read ahead to find out. Let’s take a look.
Was Snapchat on Shark Tank?
Snapchat, the popular social media platform known for its disappearing messages, has had a successful initial public offering (IPO) in recent years. Despite not making a profit and losing $515 million in 2016, the IPO pushed the value of Snapchat to over $30 billion. The platform sees over 2.5 billion snaps per day, and the average user opens the app 18 times per day, making it highly attractive to brands. Co-founders Evan Spiegel and Bobby Murphy made $272 million each from selling some of their shares, and their net worth is now around $5 billion based on the stocks’ first-day closing price.
But “was Snapchat on Shark Tank ever?” It seems that Snapchat was not always on the radar of potential investors. In 2017, Chris Sacca, a guest on the TV show Shark Tank, tweeted out a screenshot of an email from Snapchat co-founder Bobby Murphy that he had ignored five years prior. The tweet, which was posted on March 2, 2017, read: “I know one person who isn’t getting rich in the Snapchat IPO. Hint: the guy who didn’t reply to this email. Congrats to everyone at $SNAP!“
Here is the screenshot of the email shared by Chris Sacca:
In a December 2016 interview with CNBC, he revealed why he didn’t pay attention to Snapchat in its early stages. Sacca explained that the Snapchat co-founders approached him after a talk, and he said, “I’m really flattered but the pics of your junk… really? So I passed.” He went on to tell his business partner, who was ten years younger than him, about the opportunity, and his partner “lost his mind.” Sacca then stated, “Do you realize what Snapchat is?” This comment suggests that Sacca may have missed out on a significant investment opportunity due to his lack of understanding of Snapchat’s potential at the time. Despite this, Snapchat has continued to grow and find success.
It appears that Snapchat never made it to the Shark Tank TV show, as the email from its co-founder was not even replied to at the time. While it may have been a missed opportunity for Sacca, Snapchat has clearly found success through other means. The platform’s high level of user engagement and continued growth demonstrates its potential for success in the future.
The question on everyone’s mind: Was Snapchat on Shark Tank? Unfortunately, it looks like the answer is “No.” Their email was not even responded to, let alone their participation in the show. So, while we may never get to see the Sharks sink their teeth into a Snapchat pitch, there’s no need to worry. The company has proven it’s worth and will continue to thrive. And who knows, maybe one day Snapchat will make a surprise appearance on Shark Tank after all. Until then, be sure to check out our website, Path of EX, for more interesting and informative articles. I’ll see you back here soon!