Iterations: SnapChat’s Success Challenges Many Silicon Valley Assumptions

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Editor’s Note: Semil Shah is a contributor to TechCrunch. You can follow him on Twitter at @semil.

Yesterday, it was confirmedSnapChat raised a big round of funding. By now, everyone also knows that SnapChat is a new communication medium, a phenomena reflecting a desire for ephemerality, and the fastest-growing consumer app out there today. As I was drafting this post last night, Saturday Night Live’s Seth Meyers mentioned the service during the shows “Weekend Update” news segment.

We do not know how large SnapChat will become. So, just for fun, let’s assume SnapChat continues to grow and actually turns out to be “the next big thing,” in the same manner that Instagram and Pinterest ascended over the past few years. If this happens, there are fascinating facts about SnapChat that challenge many widely-held assumptions within the tech startup community:

  1. The SnapChat founders did not drop out of college — well, sort of. [Update, I just learned that one founder did graduate from college, and the other left campus on a leave of absence right before graduation, three credits shy of getting his diploma. This bullet point turned out

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