Snapchat is a photo messaging application developed by Evan Spiegel, Bobby Murphy, and Reggie Brown, then Stanford University students. Using the application, users can take photos, record videos, add text and drawings, and send them to a controlled list of recipients. These sent photographs and videos are known as "Snaps". Users set a time limit for how long recipients can view their Snaps, after which they will be hidden from the recipient's device and deleted from Snapchat's servers. According to Snapchat in May 2014, the app's users were sending 700 million photos and videos per day, while Snapchat Stories content was being viewed 500 million times per day. In late August 2014, the company was valued at US$10 billion.