Known initially for its ability to send expiring private video and photo messages to friends and family, Snapchat has since developed into one of the premier social media outlets in dance music for fans and artists alike. And according to a presentation by Snap Inc. co-founder Bobby Murphy, EDC Las Vegas was actually one of the first places that the company realized the power of its ‘Live Stories’ feature.
According to Bobby Murphy, himself and CEO Evan Spiegel were out at EDC Las Vegas 2014 when the product’s ‘Live Stories’ feature was first launched. They probably weren’t expecting much but in his own words, “instead we saw the most amazing content covering an event that we’ve ever seen.”
Murphy added that the company soon realized that creating ‘geofences’ around certain event parameters or even just geographic locations was an interactive way of having users feed content into a community-sourced channel for that location or event. “It was just utterly unbelievable how much really cool and creative and fresh content was being submitted to this live story.”
Murphy’s comments comes as Snap Inc. prepares for its upcoming IPO that sees the company valued at roughly $20 billion, a slight decrease in its initial project of $25 billion.