Developing a new software application is a complex and iterative process that requires careful planning, design, implementation, and testing. Describe the overall process of developing a new software application, including the key stages and activities involved.

In your response, consider the different methodologies and approaches to software development, such as Agile, Waterfall, and DevOps, and the pros and cons of each. Provide an example of a software application that you are familiar with and describe how it was developed, including the tools and technologies used, the roles and responsibilities of the development team, and the challenges and successes encountered along the way.