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Evan Spiegel on Snapchat's three businesses: interview summary

Snapchat's three-part business model with CEO Evan Spiegel (2015 Code Conference)

On with Kara Swisher · May 10, 2016 · about 53 min

Uploaded May 10, 2016 · 227.8K views (as of Oct 30, 2026)

Some value given

Snapchat starts with the camera, and everything else is built around it.
He described three businesses: camera, communications and content.
He said standard metrics like daily active users miss how deeply people use an app.
He placed products on a line from instant expression to accumulation, and said Facebook leans toward accumulation.
His team learned customer service from people who handle extreme situations, like a trucking company.

How did Evan Spiegel describe Snapchat's business?

He said Snapchat starts with the camera and is made of three businesses: the camera for capturing, communications with chat, video calls and snaps, and content with Stories and Discover. He saw these as one product with three screens, and said great businesses have more than one source of revenue.

Worth watching?Some value given. An early look at how Snapchat's founder thought about the product while it was still young. Good for product thinkers. It's dated in places, so skim the metrics parts.

ActionableLessons

Actionable

Draw your product as a few simple screens and name the job of each.
Pick one metric that shows how deeply people use your product.
Ask who handles your problem in extreme conditions and learn from them.
List how many ways your business makes money.

Lessons

Simple products can hold several businesses.
Default settings shape how people use a product.
Good ideas come from studying other industries.
Team fit can change as a company grows quickly.

Quick answer

Evan Spiegel sat down with On with Kara Swisher for this interview, published May 10, 2016. Here's our summary in our own words: a verdict, the answer to the big question, 5 takeaways, Actionable and Lessons tabs, then the stories, frameworks and how to use them.

What 125x is: 125x is a web app at 125x.app. You connect your YouTube subscriptions, and it gives you a feed of the latest videos from the channels you follow, each with a summary: a verdict, the 5 key takeaways, and the spoiler, plus Actionable and Lessons tabs with more tips. You read that and decide what's actually worth opening.

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Watch the interview

Watch on YouTube: Snapchat's three-part business model with CEO Evan Spiegel (2015 Code Conference)

Channel: On with Kara Swisher. Published May 10, 2016. About 53 minutes.

Who is Evan Spiegel?

Evan Spiegel co-founded Snapchat in 2011 and is CEO of Snap Inc.

This interview was at the 2015 Code Conference with Kara Swisher and Walt Mossberg.

Key stories from the interview

He explains how snaps grew from photos to video with press and hold.
Kara pushes him on whether Snapchat is a media company.
He talks about wanting a richer music experience beyond a list of track names.
He's asked about executive turnover and talks about fit changing as the business changes.

Frameworks and ideas

Camera, communications, content.
Instant expression vs accumulation.
Learn from experts in extreme situations.

In their words (paraphrased)

It all starts with the camera.
Metrics like daily active users fail to capture how engaged people really are.
Great businesses have multiple sources of revenue.

How to apply this

Map your product on the instant to permanent line.
Interview someone outside your field who solves a similar problem under pressure.
Review your team fit every few months while you're growing fast.

A note on this summary

This page reports what was said in the interview, in our own words. Lines under 'In their words' are paraphrased from the transcript, so check the video for exact wording.

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This page is one sample of what 125x does for every video in your feed. 125x pulls in your YouTube subscriptions automatically, so there's nothing to set up. Each new video gets a watch, skim or skip verdict, 5 takeaways, the answer to the clickbait title, and Actionable and Lessons tabs.

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FAQ: questions people ask

What are Snapchat's three businesses?

In this 2015 interview Spiegel named the camera, communications and content.

What is instant expression vs accumulation?

Spiegel's line from short-lived sharing like snaps to saved, permanent posts. He said Facebook leans toward accumulation.

Is this Evan Spiegel interview still relevant?

Some value given. The product thinking holds up, but the numbers are from 2015.