SnapChat recently declined a $3 billion dollar buyout from social media juggernaut, Facebook. SnapChat’s users send a ridiculous 360 million messages a day.Instagram was bought by Facebook last year for $1 billion dollars.
It is clear that the company feels that it will find a way to make money on their own since the $3 billion is not exactly a small amount of money. SnapChat there must be a secret plan to start raking in large sums of money.
For those who do not know, SnapChat is an application for mobile phone, which is available on both Android and iOS, which allows users to share images digitally evaporate within 10 seconds after posting. The social network is obviously becoming go-to sexting . Be warned, however, some users found a way to grab screen shots of the 10-second images, despite the fact that the sender does not receive notice that a snapshot has been cut off.
Snapchat finally has a monetization strategy. In the wake of a $60 million investment, and speculate that investors want to see a return ( and so do the founders ), and thus may reveal Snapchat’s CEO Evan Spiegel has revealed to TechCrunch that the app will make money through in-app purchases.
“In-app transactions will come first,” says Spiegel. “We think we can build really cool stuff people want to pay for. The app is now a part of everyone’s day-to-day lives. That means that they will — I at least would — pay for a more unique experience.”
Surprisingly, there is not any indication about what Snapchat planned with brands. If we have learned social applications anything, it ‘s that big money comes from brands and advertisers. But while sticky, Snapchat is not like other apps. There is no dashboard, and content – Due to the nature of self – destruction – not actually remains on Snapchat for longer than 10 seconds (though, we’ve learned it will stay on your phone a lot longer).
Even with the transactions in the first working sample application on the panel Snapchat, it’s easy to guess that Snapchat may provide posters – which are very popular these days – additional brush colors, and perhaps even filters.
TechCrunch notes that Snapchat may already have the original workout is advertising. Since Snapchat offers self-destruct photos and videos, and advertisements mother look just like any images and videos and other self-destruction, but with one exception. This pattern of 10 second content will be promoting something. Trademarks and try slowly with Snapchat, it’s reasonable to believe that the application might try and provide them with options within the unique platform to reach users.
In another step, if the original announcement on the mind Snapchat, and the company can even decide to control access to content, and this means that companies will have to pay for access to a certain number of users.
Snapchat is a photo messaging application developed by Stanford University students named Daniel Smith, David Kravitz, Leo Noah Katz, Bobby Murphy, Evan Spiegel.
Other Sources: Business Insider.