Snapchat is a shining example of a business that has achieved quick success. While the owners knew they had a brilliant idea, the previous version of their app failed to gain enough traction. Their next move was a smart one and rightly-timed. They quickly identified what their users were looking for and enhanced the app by adding new features such as Snapchat Story as well as video functionality. Soon, they became one of the fastest growing social networking apps with a multibillion-dollar valuation.