Snapchat CEO Evan Speigel said this week that the company is not interested in takeover offers, and is planning to go public. Snapchat reportedly rejected a $3 billion cash offer from Facebook, and is now valued at $15 billion. L2’s Insight Report on Mobile Social Platforms finds the odds are very much in the favor of Snapchat and other mobile-first platforms, especially as users gravitate towards using social media primarily on their phones.
Snapchat reported an audience of 100 million in August, far more than the mobile audience of several established platforms such as Sina Weibo.
Snapchat is wasting no time developing to attract brands. Realizing the short shelf life of snaps inhibits brand goals, it created Snapchat Stories that live for 24 hours. Snapchat’s other product Discovery – launched in partnership with Vice, People, Cosmopolitan, National Geographic, and other media outlets – provides a framework for ads.
More good news for Snapchat: Catering to brands is not making consumers lukewarm to the service. In fact, they are becoming more interested in the products designed for brands. More than a billion Stories are viewed daily, up from 500 million in May of 2014.
L2 emails keep you up to date on how brands are leveraging digital to grow their businesses.
Join Our EMail List