Snapchat was created in 2011 as Picaboo by Evan Spiegel and Bobby Murphy. It is a photo messaging app that allows users to send pictures and videos that disappear after being viewed. More than two thirds of Snapchat's over 30 million active users are under 25. While currently not making money, Snapchat's CEO is looking to incorporate ads and has raised $60 million in funding. Facebook has also offered to acquire the popular app.