+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Snapchat will now sell you photo lenses

Nov 13, 2015, 17:48 IST

YouTube

Snapchat has just unveiled the "lens store," a place where users can buy additional photo lenses for $0.99 (£0.79). The company will continue to offer free lenses every day, but there will now be a further 30 which, if purchased, will stick around forever, according to The Verge.

Advertisement

Snapchat's lenses have proven incredibly popular so far, appearing in over 10 million snaps every day. According to Snapchat, geo-filters (such as "London Life") appear in around one million photos per day.

Snapchat currently has 100 million users.

Photo lenses can be branded and Snapchat is working on partnerships with clients, such as EON Productions (who made "Spectre"). According to Re/Code, Snapchat - which is valued at $16 billion (£10 billion) - is aiming to bring in $50 million (£32 million) in revenue during 2015.

The move comes after Fidelity, a mutual fund, wrote down its investment in Snapchat by 25%. After the company rejected a $3 billion (£1.9 billion) offer from Facebook, there has been a real drive to increase the revenues of the company alongside usage figures.

Advertisement

Snapchat has previously charged a small amount to "replay" multiple snaps after the 10-second timeframe has elapsed and it would appear that the company is now expanding into other areas.

The ability to buy lenses is being rolled out to the United States, Canada, the United Kingdom, Australia, Brazil, and Saudi Arabia (alongside other un-named European countries), according to Snapchat.

The update is live in the App Store.

NOW WATCH: How to get your Snapchats viewed by 20 million people

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article