Snapchat, the vanishing chat app that first began as "Picaboo," was both founded and launched in 2011. In the same way that Alphabet owns Google — which itself owns many major brands — Snapchat is owned by a parent company called Snap Inc. The company's name was originally Snapchat Inc., but it was renamed once it began branching into other areas, like wearables. In a 2026 SEC report, Spiegel and Murphy are described as having "99% of the voting power," given the size of their holdings. Even if they were fired from their respective roles, they would still be able to "exercise the same significant voting power" on matters relating to the business.