i caught up with the partner who came up with the idea, 32-year-old justin khan, to find out more. ese people had been reaching out to me for entrepreneurial advice on snapchat. they would be asking, how do i get started? they were sending me pictures and there is a massive community of young people on snapchat, so we figured we would go where they were and tackled the competition. emily: how does it work? justin: we opened up an application process for companies to apply due to take -- and so far we received 400 applications, a lot more than we expected. emily: so vc's are increasingly using snapchat. giving start up lessons. did you watch a bunch of those and finally say, we should do this? justin: i got into it in december, after years of having snapchat and looking at it from a product perspective. not really getting it. when i startedt watching dj on there. emily: there has been a big climax of every batch where companies present their final product. investors are there to watch. . there has been criticism that demo day is picked over and the best deals are taken. could you see