You may be a late adopter to Twitter or Instagram, but ask your kids and they’ll tell you Snapchat is all the rage. The app that lets you send self-destructing messages to your friends is just two years old, but according to rumors, Snapchat has raised $200 million in venture capital. 

“Snapchat has essentially found the zeitgeist for a younger demographic of people who have found the internet to be too public a place,” says Om Malik, founder of the tech news site GigaOm.

Malik says love from privacy-seeking teens also means love from investors who think social networks are having their big moment.

“In the past, there used to be the old technology — like semiconductors and optics. Now it happens to be these kind of social environments whether it’s Instagram or Twitter or Snapchat,” Malik says of today’s investing environment.