Lost In A Snap: How Should We React To Online Security Breaches?

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“All human beings have three lives: public, private, and secret.“―Gabriel Garcí­a Márquez

From the very moment co-founders Evan Spiegel and Robert Murphy first conceived of a self-destructing photo-sharing app for a college class project, SnapChat promised perhaps the most illusory of online benefits — privacy. Enticed by the app’s cloak of secrecy, users flocked to Snapchat by the hundreds of millions, and investors followed.

In February 2013, Snapchat confirmed a $13.5 million Series A funding round led by Benchmark Capital, which valued the company at nearly $70 million. After completing its Series B funding a few months later, Snapchat was valued at $860 million. In November, the company made headlines for turning down a reported $3 billion acquisition offer from Facebook. The next month, Snapchat raised another $50 Million in Series C funding from Coatue Management. TechCrunch called Snapchat “the Breakout Consumer Product of 2013.”

Although Snapchat is still absorbing its several investments and transitioning from corporate infancy to adolescence, it is already facing the inevitable security and privacy issues confronting every company with a sufficiently large customer database. . . .

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About Charley Moore

Charley is the Publisher of Article 3, as well as Founder and CEO of Rocket Lawyer Incorporated. Prior to founding Rocket Lawyer, Charley advised early stage companies, large enterprises and their investors on strategic partnering and corporate development strategy. Charley has been at the forefront of Internet corporate development since beginning his career as an attorney at Venture Law Group in Menlo Park, California in 1996. He represented Yahoo! (IPO), WebTV Networks (acquired by Microsoft) and Cerent Corporation (acquired by Cisco Systems) at critical early stages of their success and was the founder of Onstation Corporation. Charley graduated from the United States Naval Academy (BS), San Francisco State University (MS) and the University of California at Berkeley (Juris Doctorate). He served as a U.S. Naval officer and is a Gulf War veteran.
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