Snapchat feels that it can steal advertisers away from the television networks. One stat that proves that this is a possibility reveals that Snapchat reaches 41% of all 18 to 34-year olds in the U.S. Consider that the top 15 television networks in the U.S. reach only 6% of the same demographic. Last month, Snapchat signed a contract with Nielsen for the latter to track the reach of the messaging app's ads.
The most recent valuation of Snapchat is $10 billion. The app showed unbelievable growth in valuation from $800 million in June 2013 to more than $4 billion just months later. In November 2013 Snapchat reportedly turned down offers for the company of $3 billion by Facebook and $4 billion by Google
source: BusinessInsiders via PCMag