What you wrote sounds to me like this: if SnapChat were something else, and not (just?) SnapChat, maybe in the same "space", it could be worth a lot. Edit: I a

What you wrote sounds to me like this: if SnapChat were something else, and not (just?) SnapChat, maybe in the same "space", it could be worth a lot. Edit: I am deeply skeptical that a market filled primarily with people who have little or no income will support an ad-based revenue stream valued at $10bn. I would be even more skeptical if the revenue for SnapChat were supposed to come from a pricing structure.