Here's how Snapchat thinks strategically about 'reinventing the camera' (SNAP)

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February 3, 2017 5:33 PM

Snapchat maker Snap Inc. laid out its official mission statement as a "camera company" in its initial public offering prospectus with the Securities and Exchange Commission on Thursday.

evan spiegel

"We believe that reinventing the camera represents our greatest opportunity to improve the way that people live and communicate," the filing reads. "Our products empower people to express themselves, live in the moment, learn about the world, and have fun together."

Snap said it plans to keep investing in camera hardware, like its Spectacles glasses, as part of that mission.

The Los Angeles company also touted that its Snapchat app, which has 158 million daily users, is already heavily used in developed markets like the US. That allows it to make money off advertising, which lets it then invest further into creating products centered around the camera.

"We benefit greatly from the fact that many of our users are in markets where we have the highest capital efficiency and monetization potential, allowing us to generate revenue and cash flow that we can then invest into future product innovation," according to the filing.

Here's Snap's full mission statement, including how it thinks strategically about "reinventing the camera:"

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