Snapchat CEO Evan Spiegel this Wednesday said that the new update of the mobile app will show ads. However, it is completely going to be ‘Opt-In’ feature from the company, the CEO pointed about the revenue they can generate to keep it running. Currently, the app has been evaluated to have a capital of $10 Billion.
CEO said that the ads will be visible in between the videos and images shared by the users. Whereas on the flip side, Evan Spiegel cleared an important aspect that the ads will not be according to the users’ taste, which justifies the company’s respect towards its users’ privacy.
“We’re cutting through a lot of the new technology stuff around ads to sort of the core of it, which I think has always been telling a story that leaves people with a new feeling,” Spiegel said. “They’re not fancy. You just look at it if you want to look at it, and you don’t if you don’t.”
The company has been evaluated to have a capital of $10 billion, and the ads are supposedly going to be the first source of revenue. Snapchat until now had no ads displayed in its apps. However, the upcoming updates will feature advertisements.
Spiegel refrained itself from disclosing when the ads will appear in the mobile app, and what are the plans of the company. Whereas on the flip side, the CEO said that they want to help groups of people in a location to communicate and interact.
“More people are watching college football on Snapchat than they are on television,” Spiegel said.
“One of my pet peeves over time has been the technology industry has tried to sell counterculture, sell the revolution, and we have been really resistant to doing that,” Spiegel said. “We didn’t feel like pushing these photos and videos out would turn that attention into action that would be helpful in Hong Kong.”