New Delhi: This might be a bad news for all the Snapchat fans, but yes the company is now focusing on revenue. After four years of the app launch and with users watching almost 10 million videos everyday, Snapchat has come up with a tool that it believes would help it become a billion dollar company.
The messaging service has launched Snapchat Partners, an advertising API designed to expand its marketing.
Unlike other social network apps, Snapchat has been clear with the third-party advertising. Also the company has informed that the ads will appear "from time-to-time" between stories, in an effort to not interrupt the user experience.
A beta program will soon roll out with 10 test partners, which includes Hollister, P&G, Verizon, and Warner Bros. Also Snapchat has said that it's going to review every single ad on its platform to maintain quality.
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The ads will also be fully featured, and for the first time be certified by third-party agencies. Advertisers will also be able to choose additional actions when users will swipe up on their content, which includes sending them to a longer video, directing them to a website or article or prompting them to install another app.
A recent report suggested that Snapchat had a revenue of $59 million (Rs. 365 cr approx.) in 2015, which is about to reach $250 million (Rs. 1.6 lakh cr approx.) and $350 (Rs 2.3 lakh cr) million in 2016, and is aiming to rise between $500 million (Rs 3.3 lakh cr.) and $1 billion (Rs. 67 lakh cr. Approx) in 2017.
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