Spiegel: Early Snap investors allowed the founders to sell $10M in stock
“They allowed Bobby and I to both sell ten million bucks of stock very early on.”
Spiegel and Murphy funded early Snap with savings and inheritance
“You know, my grandparents had left me 10,000 dollars. Bobby had some money from one of his prior jobs, and so he chipped that in. My dad, I think, put in maybe five or 10,000 dollars, but he wasn't quite keen to put in any more to help people send photos back …”
Spiegel: Eric Schmidt advised early Snap not to hire a CFO
“And so he would say, you know, hey, I'm coming to LA. I'll come by. You and Bobby just make a list of all the questions you have, and I'll help you answer them. And, you know, at that time, our questions were like, do we need a CFO? Like, you know, this kind o…”
Spiegel and Bobby Murphy each cashed out $10M in an early round
“In one of those early financing rounds, Bobby and I were both able to cash out like ten million dollars each.”
Srugo: Snapchat founders lacked a mobile thesis and rode market tailwinds
“Neither Evan nor Reggie nor the other co-founder, the technical co-founder that comes in later, Bobby, they don't have a thesis about mobile. They haven't really thought through strategically what's happening now that the app stores out. Now that these mobile …”
Bobby Murphy Built Early Snapchat Code Off-Hours While at Another Startup
“Evan was partnered with Bobby Murphy, who was a fraternity brother of his from Stanford, who graduated a couple of years earlier. And he'd been the guy who was building all of this and had obviously demonstrated an ability to like build high quality, scalable …”
Bobby Murphy Built Snap's AR Roadmap Starting in 2012
“From the very beginning, from, I think, maybe a couple of months in, was thinking about the, you know, the breakthroughs that had been happening in computer vision and the implications for what that could build, and he had been working on, you know, a lot of t…”