Snap: messages vanish, young billionaires appear

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Snapchat teases its new wearable tech in a YouTube video. (Source: Snap Inc)
Snapchat teases its new wearable tech in a YouTube video. (Source: Snap Inc)

San Francisco - The mobile application Snapchat became a social media star with messages that vanish after viewing, making co-founders Evan Spiegel and Bobby Murphy among the youngest billionaires on the planet.

The history of the company, recently re-branded just Snap in an effort to be seen as being about more than one hit smartphone application, fits into Silicon Valley lore with wealth for its creators as well as controversy regarding who gets credit for its genesis.

The start-up about to debut as a public company, however, is based hundreds of miles from Silicon Valley in the Los Angeles beach town of Venice, known for surfers, body builders, bathing-suit clad roller skaters, and sun-seeking tourists.

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