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<ul><li><keyword id="6358096" type="General" weightage="20" keywordseo="snapchat" source="Orion">Snapchat</keyword> now has a monthly reach of 100 million users in India.</li><li>The company announced this milestone at its second ‘<keyword id="12397826" type="General" weightage="20" keywordseo="snap-in-india" source="Orion">Snap in India</keyword>’ event today.</li><li>It also announced AR partnerships with Flipkart, Zomato, Sugar Cosmetics and MyGlamm.</li></ul>Snap Inc., hosted its second ‘Snap in India’ event on Wednesday, where its Chief Executive Officer (CEO) <keyword id="1659524" type="General" weightage="20" keywordseo="evan-spiegel" source="Orion">Evan Spiegel</keyword> announced a major milestone of <a href="https://www.businessinsider.in/tech/apps/news/snapchat-app-witnesses-over-150-growth-in-daily-active-users-in-india/articleshow/85394136.cms" data-type="tilCustomLink">Snapchat</a> reaching 100 million monthly users in India. This is a big jump from the 60 million user base it revealed earlier this year. The company also announced partnerships with Flipkart, Zomato, Sugar Cosmetics and MyGlamm to integrate its AR technology into these platforms. Snap did not reveal its daily active users (DAUs) or monthly active users (MAUs) for Snapchat in India but it said that the app has been witnessing over a 100% growth in DAUs. “For the last seven quarters we’ve been growing at more than 100% when it comes to our daily active users,” Nana Murugesan, managing director of international markets at Snap Inc., told Business Insider in an interview. The app has been witnessing an upward trend in numbers ever since Snap opened its first India office in 2019. It also became the fifth most downloaded social media app in India, according to App Annie. But the app is yet to break into the mainstream social media scene. On this Murugesan said, “We’ve always never looked at ourselves as a traditional platform. We’ve always taken a very innovative approach. The good news is once our community embraces us we see really good stickiness. The retention metrics are very strong so we’re kind of happy with that. We’re happy that every platform has its own place. We’re happy with where we are with respect to doubling down on a creation first approach, a camera first approach and then using that as a way to drive those human connections.” In India, the two key areas where Snapchat is seeing the most growth are augmented reality (AR) and chatting. “One thing which is great about India is that people are really embracing augmented reality and the camera so definitely the camera is extremely engaging and very very strong. As we invest more and more in that particular area that’s seeing very healthy and strong growth.” Murugesan also attributes content partnerships as an accelerator for the platform’s growth in India. At the event, Snap announced that it is partnering with e-commerce platform Flipkart that will use <keyword id="9484375" type="General" weightage="20" keywordseo="snapchat-ar" source="Orion">Snapchat AR</keyword> for an immersive shopping experience. Snapchat users will also get to virtually try on makeup from Sugar Cosmetics and MyGlamm. Zomato is also coming to Snapchat with the food aggregator integrated into Snap Map, which is an in-app map. Snapchat users will have access to restaurant information including hours of operation, locations, contact details, customer reviews, menus, and photographs. They will also be able to place food orders from Snapchat itself. Another key area of partnership and growth for Snapchat is with Android OEMs (Original Equipment Manufacturer). India is now the first and only market where Snapchat is pre-installed in over 100 million devices. The company has successfully partnered with all the top Android OEMs to pre-install its app on their devices. It recently announced a first-of-its-kind partnership with Google for the Pixel 6 series where the app opens from the lock screen itself. Murugesan did not reveal if we will see such a partnership with more OEMs, but he did say that the company is “talking to multiple partners“ and wants to “bring this to as many partners as possible”. Snapchat has also integrated its AR filters into the camera app of the JioPhone Next smartphone that’s due to launch next week. Going forward, Snap plans to double down on community engagement through AR in India, and help creators monetise on the platform. “We initially focused on helping creators build their audiences, but now we are helping them monetise too. We’re actually introducing features where fans of creators can gift them. So if you like a creator or really enjoyed something you can give a gift so that’s a way of monetisation. We’re also connecting creators directly to brands through our creator marketplace and 100% of the transaction goes straight to the creator,” Murugesan said. The company also has big plans for content and gaming in India. Phone Swap India, the first non-English Snap Original has been confirmed for two more seasons. We will also see exclusive creator shows with Shehnaaz Gill, Avneet Kaur, Harsh Beniwal and Sushant Divgikar. After the launch of Ludo Club, Snap will now launch another Indian favourite - carrom. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/cisco-unveils-webex-hologram-to-make-virtual-meetings-more-immersive/articleshow/87298550.cms" data-type="tilCustomLink">Cisco wants to make virtual meetings more immersive with real-time holograms of actual people just like sci-fi movies</a> <a href="https://www.businessinsider.in/tech/news/apple-glasses-may-feature-a-direct-retinal-projector-that-could-project-a-screen-over-users-eyeballs/articleshow/87297612.cms" data-type="tilCustomLink">Apple glasses may feature a direct retinal projector that could project a screen over user’s eyeballs</a>

Snapchat reaches 100 million monthly users in India, partners with Flipkart, Zomato and MyGlamm for AR integrations

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/stocks/snap-stock"></a>Markets Insider</div></div></div><ul><li><a href="http://markets.businessinsider.com/stocks/snap-stock">Snap</a> has reportedly entered into a partnership with an Indian advertising-technology firm that will help it monetize its user base in India. </li><li>Snap shares are up almost 4% on the news. </li><li>May has been a rough month for Snap shares. </li><li><a href="http://markets.businessinsider.com/stocks/snap-stock">Watch Snap trade in real time here. </a></li></ul><a href="http://markets.businessinsider.com/stocks/snap-stock">Snap</a> is surging, up as much as 4% Wednesday, after a report said the camera company is entering into a partnership with an Indian advertising-technology firm that will enable it to sell ads on the platform in India. <a href="https://timesofindia.indiatimes.com/companies/snapchat-eyes-india-mkt-partners-tyroo/articleshow/64380108.cms">The Times of India reported Wednesday that Snap and Indian ad-tech firm Tyroo have a deal</a> that will help Snap monetize its more than 9 million users in the country. This is the first time Snap will try to make money in India, and it's going up against none other than Facebook and Google, both of which have developed a footprint in the country. This potentially new revenue stream for Snap seems to be a value-added opportunity to investors, who have recently not been too hot on the stock. <a href="http://markets.businessinsider.com/news/stocks/snap-stock-price-sinks-to-record-low-2018-5-1024598477">Shares hit a record low of $10.50</a> earlier this month, in the wake of the company's <a href="http://markets.businessinsider.com/news/stocks/snap-stock-price-earnings-disaster-record-low-2018-5-1023140738?utm_source=markets&amp;utm_medium=ingest">disappointing first-quarter earnings report</a>. Snap is down 26.8% this year. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/what-humans-look-like-on-mars-2018-5">What humans will look like on Mars</a></h3> <div> </div> </div>

Snap surges after report says it has entered a partnership that'll help it monetize in India

<keyword id="6481662" type="COMPANY" weightage="100" keywordseo="Jasper-Infotech">Jasper Infotech</keyword>, the owner of <keyword id="1705292" type="UNKNOWN" weightage="100" keywordseo="Indian-e-commerce">Indian e-commerce</keyword> giant <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">SnapDeal</keyword>, is closer to cutting a deal with Japan's <a href="http://www.businessinsider.in/softbank-may-pick-up-minority-stake-in-vodafone-india-heres-the-latest-development/articleshow/57306703.cms">SoftBank Corp</a>, its largest shareholder. The deal would be a lifeline to the <a href="http://www.businessinsider.in/snapdeal-has-started-down-sizing-600-employees-have-already-been-fired/articleshow/57343065.cms">struggling</a> Jasper, but could drag its valuation to under $3 billion, down by half. 
 <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword> is looking forward to an investment of $100-150 million in Jasper, which would be done in parts, three people in the know told ET, while as per another source, the overall investment could be as high as $300 million. 
 
Also read: <a href="http://www.businessinsider.in/nirmalasitharaman-to-investigate-snapdeals-payment-defaults/articleshow/57429327.cms">Nirmala Sitharaman to investigate Snapdeal’s payment defaults</a> 
 
If the transaction takes place, SnapDeal would become the latest top-tier Indian Internet company to cut down its valuation, after cab aggregator Ola and <a href="http://www.businessinsider.in/HSBC-halves-Zomatos-1-billion-valuation/articleshow/52185955.cms">Zomato</a>. 
 
In its last funding round led by Canada's Ontario Teachers' Pension Plan in February 2016, Jasper was valued at $6.5 billion. However, in late 2014 to early 2015, it was valued below $3 billion because of stake sales by shareholders to other investors. 
 
However, industry analysts are of the view that a company raising capital at lower valuations does not necessarily indicate bad times. 
 
"Regardless of valuation, the fact that money is available is a good sign," said Harish HV, partner, India Leadership team, <a href="http://www.businessinsider.in/25-companies-where-interviewing-is-a-treat-not-a-chore/2-grant-thornton/slideshow/55254138.cms">Grant Thornton India</a>. "It means investors, whether new or existing, haven't yet given up on the company and that there is meat left. It's a sign of bullishness." 
 
As per reports, this fresh funding would come with stricter rules regarding financial control. 
 
"Earlier cheques were written after SnapDeal submitted annual operating plans. Now Soft-Bank will ask for SnapDeal's monthly budgets, approve them, and then remit the funds," said one of the aforementioned sources. 
 
In the recent past, SnapDeal, India’s third largest online marketplace after Flipkart and Amazon India, has seen little growth and has been marred by losses, and tremors in upper management. 
 
Also read: <a href="http://www.businessinsider.in/snapdeal-founders-admit-to-wrong-moves-take-100-salary-cut/articleshow/57308448.cms">Snapdeal founders admit to 'wrong moves', take 100% salary cut</a> 
 
(Image source: SatyaVijayi)

SoftBank’s latest investment in Jasper Infotech might bring its valuation down to half

New Delhi, <keyword id="6358096" type="General" weightage="20" keywordseo="Snapchat" source="Orion">Snapchat</keyword> owner Snap Inc on Wednesday said it has appointed former <keyword id="18509163" type="General" weightage="20" keywordseo="Google-Pay-director" source="Orion">Google Pay director</keyword> <keyword id="3947206" type="General" weightage="20" keywordseo="Pulkit-Trivedi" source="Orion">Pulkit Trivedi</keyword> as its India Managing Director. He will report to Snap's Asia Pacific President Ajit Mohan. "Pulkit's deep expertise in building and scaling businesses and finding ways to drive outsized growth for partners will enable us to continue delighting our surging community of over 200 million Snapchatters in India," Mohan said. <keyword id="729" type="General" weightage="100" keywordseo="trivedi" source="Orion">Trivedi</keyword> joined Snap from Google where he has spent the past five years as the Director of <keyword id="2750705" type="General" weightage="20" keywordseo="Google-Pay" source="Orion">Google Pay</keyword> - India Business Team. As part of the leadership team, Trivedi was responsible for building strategic plans for the business, forging key partnerships, and leading the monetisation agenda for Google Pay in India. In his new role, Trivedi will be responsible for leading the organisation's Indian operations, including driving revenue, supporting partners, and nurturing the creator ecosystem. Under a new operational structure, the growth, market development, partnerships, content and creator ecosystem teams will now report directly to Trivedi. "Unifying our local teams under this new structure will set the right stage for making accelerated investments in India and enable us to further fuel the growth of our community and partners," Mohan said. Trivedi has over 23 years of experience in top technology companies, including leadership roles at Meta and Google in India. "Snap has a reputation for being a true innovator and has built a thriving community in India with a product that has connected with so many young Indians. India is one of the world's fastest-growing internet economies giving Snap an exceptional opportunity to actively contribute to the expansion of our community and businesses," Trivedi said. In May, Snap announced the milestone of over 200 million monthly active Snapchatters in India with more than 120 million Indian Snapchatters watching content across Stories and Spotlight, the fourth and fifth tabs of the app.

Snap ropes in former Google Pay director Pulkit Trivedi as India MD

<ul><li>The camera kit is an end-to-end solution to include <keyword id="24754" type="ORGANIZATION" weightage="20" keywordseo="snap">Snap</keyword>’s AR platform into apps.</li><li>With the partnership, <keyword id="8678883" type="UNKNOWN" weightage="20" keywordseo="moj">Moj</keyword> will be releasing 30 lenses for creators to use, and will further build 400 more lenses in collaboration with Snap.</li><li>Moj has over 80 million users in India.</li></ul><keyword id="6358096" type="DEFINITION" weightage="20" keywordseo="snapchat">Snapchat</keyword>’s parent company Snap Inc has partnered with Moj, the short video platform by <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">Sharechat</keyword>, to integrate its camera kit. The camera kit is an end-to-end solution to include Snap’s AR platform into apps. Several global video apps have already partnered with Snap for its camera kit. With the partnership, Moj will be releasing 30 lenses for creators to use, and will further build 400 more lenses in collaboration with Snap. Snapchat users will also be able to access the lenses created by Moj. “This exclusive partnership makes us the first Indian short video platform to bring Snap’s innovative Camera Kit technology to India. The newly launched collection of 30 Lenses will give our community a never seen before social experience and make content creation on Moj a whole lot more fun. We are supremely excited about this collaboration and look forward to our creators making magic with these advanced Lenses and their original ideas,” said Gaurav Mishra, SVP-Product, ShareChat. Interestingly, <a href="https://techcrunch.com/2021/01/04/google-and-snap-in-talks-to-invest-in-india-social-network-sharechat/">reports </a>also said that Snap was in talks with Sharechat for an investment. “The Moj community and Snapchatters have a lot in common - they are creative and love finding innovative ways to express themselves. Our Camera technology and core values around creativity, privacy, and ephemerality enables us to help developers bring new opportunities to bring engaging experiences to their platforms and communities,” said Ben Schwerin, SVP - Content and Partnerships, Snap Inc. in a statement. In early July, Sharechat had launched Moj – its rival product to TikTok, right after the Chinese app was banned by the Indian government. Since then, Moj has ramped up its offerings as it looks to tap into the millions of users left behind by the ByteDance giant TikTok. The app now has over 80 million users. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/what-happens-if-the-government-bans-cryptocurrencies-should-i-sell-bitcoin-checkout-experts-views/articleshow/80782941.cms">“Should I sell my cryptocurrencies?” and other questions answered on India’s proposed Crypto Ban bill</a> <a href="https://www.businessinsider.in/india/news/india-is-considering-four-day-work-weeks-but-with-longer-hours/articleshow/80763247.cms">India is considering four-day work weeks but with longer shifts</a> <a href="https://www.businessinsider.in/tech/news/what-is-facial-recognition-technology-and-how-india-is-using-it-to-track-down-protestors-and-individuals/articleshow/80782606.cms">India is ramping up the use of facial recognition to track down individuals without any laws to keep track of how this technology is being used</a>

Snap chooses Sharechat’s Moj to launch its camera kit in India

<a href="https://www.youtube.com/watch?v=jeQ0alGlsPg#t=57">Youtube/Snapchat</a>Snap Inc. CEO Evan Spiegel.Snapchat maker Snap Inc. is denying that its CEO, Evan Spiegel, once said the app is "only for rich people" and that he doesn't "want to expand into poor countries like India and Spain."The quote, which Snap is calling "ridiculous," came from <a href="http://www.businessinsider.com/snapchat-unseals-anthony-pompliano-lawsuit-over-user-growth-metrics-2017-4">a recently unredacted court complaint by Anthony Pompliano</a>, who served as the company's growth lead for a few weeks in 2015. In the complaint, Pompliano recounts the exchange from a September 2015 meeting he had with Spiegel about the app's international growth plans.Snapchat's app ratings have taken a hit since <a href="http://variety.com/2017/biz/news/snapchat-evan-spiegel-only-for-rich-people-anthony-pompliano-1202028526/">Variety</a> and a number of other outlets highlighted the alleged quote from Spiegel last week. A deluge of social media posts and one-star reviews in Google and Apple's app stores feature many users voicing their disapproval.ScreenshotA sample of recent one-star reviews Snapchat has gotten in the Google Play Store. "This is ridiculous," a Snap spokesperson <a href="http://factordaily.com/snapchat-ceo-comment-india-response-snapdeal/">told several</a> <a href="http://www.indiatimes.com/technology/apps/snapchat-s-app-rating-takes-a-massive-hit-on-play-store-thanks-to-poor-indians-spokesperson-issues-clarification-275743.html">Indian news outlets</a> <a href="http://www.huffingtonpost.in/2017/04/16/snapchat-denies-allegations-after-former-employees-accuses-its-c_a_22041625/">on Sunday</a>. "Obviously, Snapchat is for everyone! It's available worldwide to download for free. Those words were written by a disgruntled former employee. We are grateful for our Snapchat community in India and around the world."Get the latest Snap stock price<a href="http://markets.businessinsider.com/stock/SNAP-Quote"> here.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/snaphat-tech-stock-buy-sell-henry-blodget-2017-4">How to know if Snapchat stock is a buy or a sell</a></h3> Please enable Javascript to watch this video

Snapchat is doing damage control after its CEO allegedly said the app is 'only for rich people'

<ul><li><keyword id="6358096" type="DEFINITION" weightage="20" keywordseo="snapchat">Snapchat</keyword> completes two years of its first office in India.</li><li>It has so far witnessed a daily user base growth of 100% for the past 5 quarters.</li><li>Snapchat’s parent company Snap Inc. plans to expand the app’s presence in India with increased hiring, content partnerships and hyperlocal experiences.</li></ul>Snapchat’s parent company Snap Inc. launched its first office in India in August 2019. It has so far reported an upward trajectory in terms of user base in India, a market which its chief executive Evan Spiegel once <a href="https://www.businessinsider.in/snapchat-ratings-drop-to-one-star-on-app-store-after-evan-spiegels-poor-countries-like-india-comment/articleshow/58206334.cms">reportedly said “poor” for Snapchat</a>. In its recent June quarter earnings report, Snap <a href="https://www.businessinsider.in/business/news/snapchats-records-highest-growth-in-users-since-going-public-in-2017/articleshow/84670141.cms" data-type="tilCustomLink">reported </a>a global revenue of $982 million, more than double as compared to the previous year. Snapchat also registered its highest user growth to 293 million daily active users. Earlier this year, Snapchat revealed it has crossed 60 million users in India. “We’re experiencing more than 150% growth in daily active users over the last year and consistently we are in triple-digit growth rate five quarters in a row,” Nana Murugesan, managing director of International markets at Snap Inc. told Business Insider India in an interview. Murugesan did not reveal the current statistics for Snapchat’s user base in India, but added that the company had a “healthy growth” in the country and that India is a “significant part” of their global community. The company is also expanding its team in India to focus on local augmented reality (AR), TikTok-rival Spotlight, partnerships, market development, sales and creative strategy. “What you’re going to see is a significant doubling down of our commitment to India, whether it’s on the teams, on the community, on the partnership, we’re very pleased with our overall India story,” Murugesan said. Hyperlocal experiences Snapchat’s key focus in India is to create hyperlocal and culturally relevant experiences for users, according to Murugesan. It launched the third landmarker lens in India, which can be experienced at India Gate in New Delhi. Snapchat users who are nearby India Gate will be notified to point their camera at it, and the monument will be embellished with the tricolour. Snapchat’s landmarker lens lets users create AR experiences at select popular locations like the Buckingham Palace in London and the Eiffel Tower in Paris. In India there are three Snapchat landmarker lenses including the newly launched one at India Gate, and Gateway of India in Mumbai and Taj Mahal in Agra. The company also has dedicated AR lenses for different religious and cultural festivals in India. It also launched the language learning lens that aims to make learning Bengali, Hindi, Kannada, Marathi, Punjabi, and Telugu easier for users. Snapchat’s language learning lens uses AR and machine learning (ML) to translate objects in real-time in different languages. The app is also available in nine Indian languages -- Hindi, Marathi, Gujarati, Punjabi, Bengali, Kannada, Malayalam, Tamil and Telugu. Partnerships Adding to the company’s strategy of reaching every smartphone user in India, one focus area for Snapchat is partnerships. “Our strategy is to make Snapchat accessible across all smartphones out there,” Murugesan said. Earlier this year, Snapchat partnered with Sharechat to integrate Snap’s camera kit into the startup’s short video platform, Moj. There are 150 Snapchat lenses available on Moj so far. “We shared our augmented reality technology with Sharechat’s Moj, they integrated our technology into their camera. It’s been exciting to see all the momentum out of that. From our partner’s perspective, it’s been a very fruitful and exciting journey as we share Snap’s camera kit,” Murugesan said. A more recent partnership for Snapchat was with Google and Reliance Jio for JioPhone Next. The low-cost 4G smartphone jointly developed by Google and Jio will come with Snapchat lenses integrated into its camera. “What you’re going to see here is JioPhone Next, the camera that will integrate Snapchat’s augmented reality lenses, which will be highly customised for local Indian users. So the people can enjoy lenses which are at the core of Snapchat, in a very native way without having to do anything. That’s going to be a very interesting way for us to engage with a very large part of the Indian demographic,” Murugesan said. This partnership is being looked at as a way for Snapchat to tap into a wider demographic of early 4G smartphone users or those who upgrade from feature phones to 4G smartphones. Murugesan highlighted the fact that Snapchat’s core feature is AR which makes the app “pretty sophisticated” so the company needs to make sure that it works on just about any device and on any network condition. TikTok-rival ‘Spotlight’ Snap’s seriousness for the Indian market can be seen with the company bringing almost every new feature and product here. Earlier this year, it launched <a href="https://www.businessinsider.in/advertising/ad-tech/news/spotlight-snapchats-answer-to-tiktok-and-instagram-reels-launched-in-india/articleshow/81532302.cms">‘Spotlight’</a>, its TikTok-rival, in India. Murgesan said that the company has been seeing a “healthy adoption of Spotlight” in India. Without giving details, he added that the $1 million a day fund has really helped with the adoption of Spotlight. Snap announced it will pay creators up to $1 million a day for using Spotlight based on the number of views the videos get. At Snap’s partner summit in May this year, the company said it paid creators over $130 million globally. It also made changes to the fund saying that creators will now be paid millions per month. “We have seen incredible creativity and growth on Spotlight this year, including a tripling of daily submissions quarter-over-quarter and an all-time high in the daily number of creators posting to Spotlight. We will continue to pay creators millions per month to anyone who makes the top Spotlight Snaps, which is primarily based on engagement and relative performance of Snaps,” Murugesan said. Content partnerships Another area Snapchat has focused on is content partnerships. It has so far partnered with 60 local channels from 32 different publishing partners. Content of different genres ranging from news to Bollywood, beauty, comedy, and art are displayed in the app’s Discover section. It also partnered with comedian Vir Das for a new comedy series ‘VirDas -The Most Epic Max Show’. Another <a href="https://www.businessinsider.in/advertising/ad-tech/news/snapchat-launches-creator-shows-a-series-with-3-5-minutes-long-episodes-features-vir-das-and-anushka-sen-in-its-first-original/articleshow/83603487.cms">creator show</a> it launched was with Indian television actress Ansuhka Sen for a cooking show called “What’s On My Plate”. Snapchat also launched its first non-English Snap Original show ‘Phone Swap India’ which turned out to be a huge hit in India, according to Muregesan who credits the show’s unique concept as the reason behind it. Phone Swap is a reality dating show where the participants have to go through each other’s phones and decide whether they want to go on another date. This show was especially popular with India’s Gen-Z, which is also Snapchat’s core user group. “You will see us do more of these types of things. It was the first time we’ve tried something like this so you’ll probably see us doubling down on these kinds of concepts,” Murugesan added. In addition to Spotlight and content partnerships, Snapchat also launched customised games for users in India. It partnered with MoonFrog Labs to launch a custom version of Ludo Club, and it also made a localised game concept called “Dosa Dash” that is based on one of its popular games, ‘Ready Chef Go’. SEE ALSO: <a href="https://www.businessinsider.in/business/news/snapchats-records-highest-growth-in-users-since-going-public-in-2017/articleshow/84670141.cms" data-type="tilCustomLink">Snapchat records highest growth in users since going public in 2017</a> <a href="https://www.businessinsider.in/advertising/ad-tech/news/snapchat-launches-creator-shows-a-series-with-3-5-minutes-long-episodes-features-vir-das-and-anushka-sen-in-its-first-original/articleshow/83603487.cms" data-type="tilCustomLink">Snapchat launches Creator Shows, a series with 3-5 minutes long episodes; features Vir Das and Anushka Sen in its first original</a>

Snapchat to ‘double down’ on expansion in India as it witnesses over 150% growth in daily active users

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Mike Blake/ReutersSnapchat CEO Evan Spiegel attends the first day of the annual Allen and Co. media conference in Sun Valley, Idaho, July 8, 2015</div></div></div><ul class="summary-list"><li><a href="https://markets.businessinsider.com/stocks/snap-stock">Snap</a> shares gained almost 3% Friday morning after CEO Evan Spiegel said in an internal memo that the company plans to get profitable next year.</li><li>Spiegel admitted that Snap "rushed" with its redesign and now plans to grow at a sustainable pace. The company plans to grow in new markets like India, Indonesia, Mexico, and Brazil.</li><li>On Thursday, Snap fell below $8 for the first time since going public in early 2017.</li><li><a href="https://markets.businessinsider.com/stocks/snap-stock">Follow Snap trade here in real time.</a></li></ul><a href="https://markets.businessinsider.com/stocks/snap-stock">Snap</a> shares gained almost 3% Friday morning after CEO Evan Spiegel said in <a href="https://www.businessinsider.com/snap-ceo-evan-spiegel-leaked-memo-profitable-2018-10">an internal memo</a> that the company plans to reach profitability next year.In the memo, which sent out on Thursday and contained more than 6,500 words, Spiegel admitted the Snapchat app was too fast in releasing its controversial redesign, which led to the company's <a href="https://www.businessinsider.com/snap-inc-snapchat-q2-earnings-2018-8?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">first drop in daily active users.</a> Spiegel also acknowledged that Snap plans to grow at a sustainable pace."In our excitement to innovate and bring many new products into the world, we have lost the core of what made Snapchat the fastest way to communicate," Spiegel wrote.In order to increase its revenue, he said Snap will have to grow in new markets like India, Indonesia, Mexico, and Brazil. The company will also have to increase advertisers on its platform and improve ad measurement for advertisers, he said.The memo comes after the <a href="https://markets.businessinsider.com/news/stocks/snap-stock-price-tumbles-below-8-for-the-first-time-2018-10-1027591537">Snap shares sank below $8 on Thursday</a> for the first time since going public in early 2017. Evercore ISI analyst Anthony DiClemente said that competition from Instagram is "irreversibly reducing" the company's ability to meet investors' long-term expectations.Snap shares were down 46% this year through Thursday.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://markets.businessinsider.com/stocks/snap-stock">Markets Insider</a></div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/is-activated-charcoal-safe-for-eat-drink-teeth-whitening-2018-9">What activated charcoal actually does to your body</a></h3> <div> </div> </div>

Snap is gaining ground after leaked memo reveals CEO Evan Spiegel's path to profitability

Photo-sharing platform Snapchat on Wednesday launched its paid subscription service in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> for Rs 49 per month, as it aims to increase revenue amid slowed growth and layoffs globally. The subscribers in India will receive a Snapchat+ badge for their profile with a Star designation. The Snapchat+ arrives in India at a time when WhatsApp is also geared up to launch seven new features with its upcoming update. "India is an important market for <keyword id="24754" type="General" weightage="80" keywordseo="snap" source="Orion">Snap</keyword> and investments in localizing the app experience has been key to our growth in the region. We're very excited about offering exclusive, experimental, and pre-release features to our Indian Snapchatter community who is eager to try our new products and features," said Lakshya Malu, Interim-Market Development Lead, Snap. Snapchat in June announced Snapchat+, a collection of exclusive, experimental, and pre-release features available on the platform, for $3.99 per month. It was then available in the US, Canada, the UK, France, Germany, Australia, New Zealand, Saudi Arabia, and the UAE. "We have always enjoyed creating new features for our community, and historically we have tested new features in different ways, rolling them out to various <keyword id="6698107" type="General" weightage="50" keywordseo="snapchatters" source="Orion">Snapchatters</keyword> and geographies," the company had said in a statement. "This subscription will allow us to deliver new Snapchat features to some of the most passionate members prioritised unity and allow us to provide prioritised support," it added. The company claims that over 332 million people worldwide use Snapchat every day. In India, it has over 100 million monthly active users. Not just Snapchat but several other popular apps have started paid subscription services after <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword>'s introduced a privacy feature with iOS 14.5, allowing users to turn off ad tracking for apps. Instant messaging platform <keyword id="1275203" type="General" weightage="50" keywordseo="telegram" source="Orion">Telegram</keyword>'s founder and CEO <keyword id="1684385" type="General" weightage="50" keywordseo="pavel-durov" source="Orion">Pavel Durov</keyword> recently confirmed that a subscription-based offering called '<keyword id="13788992" type="General" weightage="50" keywordseo="telegram-premium" source="Orion">Telegram Premium</keyword>' will be coming later this month. Meanwhile, reported surfaced that Snap was set to sack employees and was in early stages of planning layoffs. The Verge reported earlier this week that the job cuts at Snap are coming after the company posted disastrous quarterly results (Q2) amid poor future forecast. "It's currently unclear how many of Snap's more than 6,000 employees will be laid off, as managers across the company are still planning the full scope of the cuts for their teams," the report claimed. Snap, the parent company of Snapchat, suffered nearly $10 billion loss and its shares hit a new 52-week low over disappointing quarterly results last month. The company reported a net loss of $422 million compared to $152 million in the prior year as it "substantially" reduced hiring. Snap had earlier announced to slow down hiring this year. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/more-emissions-reduction-targets-will-help-indian-fossil-fuel-giants-ieefa-reports/articleshow/93475520.cms">More emissions reduction targets will help Indian fossil fuel giants, IEEFA reports</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/drive-to-plant-the-globes-largest-mangrove-forest-in-proximity-to-sundarbans-in-bangladesh/articleshow/93473198.cms">Drive to plant 100,000 mangroves in proximity to Sundarbans in Bangladesh</a>

Snapchat brings paid subscription service to India amid layoffs, poor growth

ReutersSnap chief strategy officer Imran Khan oversees the company's growing ad business.Last month, Snap found itself in the midst of a sudden controversy.Its 26-year-old CEO, Evan Spiegel, was alleged to have said (according to a former employee who is suing the company) that he didn't "want to expand into poor countries like India."Snap <a href="http://www.businessinsider.com/snapchat-denies-ceo-said-app-is-only-for-rich-people-not-india-2017-4">quickly denied that Spiegel ever made the comments </a>, but the damage was already done. Snapchat's app ratings in the Google Play store took a nosedive, and "BoycottSnapchat" quickly became a trending topic on Twitter in India.Now that Snap is set to <a href="http://www.businessinsider.com/will-evan-spiegel-be-on-snapchats-earnings-call-2017-5">report its first quarterly earnings as a public company</a> on Wednesday, investors are wondering if the company can grow its ad business and user base in the face of fierce rivals like Facebook. And they'll be looking to Snap for evidence that there's enough room for it to grow in highly developed, rich countries.While Facebook builds drones to beam internet access to sub-Saharan Africa, Snap executives have frequently touted their app's popularity in North America and Europe, where the vast majority of advertising dollars are spent.In Snap's initial prospectus filing from February, the company said it had more than 60 million daily active users in the US and Canada. That number is roughly a third of the 182 million daily active users Facebook has in the same region. And while Facebook commands nearly 2 billion monthly users, half of its $8 billion in revenue last quarter came from the US and Canada.The company's stock finished Tuesday's regular session at $23.32, just below its opening price of $24 when it made its Wall Street debut in February. To win back investors' good graces, Snap needs to make the case that its business is not just a flash in the pan.If Snap can prove that it's able to make more money off fewer users, it could curb the comparisons to Facebook that plagued Twitter during its early days as a public company. To do that, Snap will need to show that it can grow its average revenue per user even if its overall user growth continues to slow.Here are the expected numbers for Snap's Q1 earnings, based on analyst projections compiled by Bloomberg:<ul><li>EPS (adjusted): Net loss of $0.17.</li><li>Revenue: $159 million. </li></ul>Get the latest Snap stock price<a href="http://markets.businessinsider.com/stock/SNAP-Quote"> here.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/snaphat-tech-stock-buy-sell-henry-blodget-2017-4">How to know if Snapchat stock is a buy or a sell</a></h3> Please enable Javascript to watch this video

To beat Facebook, Snap needs to prove that it can make more money off of fewer users

<ul><li><keyword id="3683497" type="General" weightage="20" keywordseo="snap-inc" source="Orion">Snap Inc</keyword>. in its latest earnings report said <keyword id="6358096" type="General" weightage="20" keywordseo="snapchat" source="Orion">Snapchat</keyword> now has 319 million daily active users.</li><li>The company also reported a 64 per cent increase in revenue to reach $4.1 billion.</li><li>Snap CEO Evan Spiegel in the earnings call termed the company’s expansion in India a success.</li></ul>Snap Inc., the parent company of <a href="https://www.businessinsider.in/stock-market/news/snap-twitter-and-pinterest-sink-as-facebook-parent-metas-q4-earnings-shock-hits-social-media-stocks/articleshow/89325149.cms" data-type="tilCustomLink">Snapchat</a> has finally become profitable after launching in 2011. The company reported a 64 per cent increase to $4.1 billion revenue for the quarter ending December 2021. Snapchat also reached 319 million daily active users (DAUs), up from 306 million in the previous quarter. “The fourth quarter marked the end of an exciting and productive year for Snap. We grew our community, expanded our product offerings and demonstrated the power of our augmented reality platform, both inside and outside of the Snapchat application,” CEO Evan Spiegel said in the earnings statement. In terms of user base, Snapchat’s largest revenue still comes from North America and Europe. The other markets are categorised as “Rest of World” which also includes <a href="https://www.businessinsider.in/tech/news/snapchat-reaches-100-million-monthly-users-in-india/articleshow/87299727.cms" data-type="tilCustomLink">India</a>, a market it started expanding on in 2019. Speaking of which, Spiegel said, “Our expansion efforts in India continue to prove successful and we are using our learnings to inform how we approach community growth in new geographies.” Snapchat for the first time reached 100 million monthly users in India last year. It also partnered with Flipkart and cosmetics companies Sugar Cosmetics and MyGlamm for AR experiences and virtual try-ons. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">App </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Daily Active Users </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Snapchat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">319 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Facebook </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.929 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Instagram </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">500 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TikTok </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 billion </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><cmsannotation type="cmsannotation" annotationid="Growth areas" comment="subhead" text="Growth areas">Growth areas</cmsannotation> Snap is one of the early pioneers when it comes to augmented reality (AR) products. Spiegel said that over 200 million engage with AR on Snapchat everyday and its community engages with AR lenses more than 6 billion times per day. Spiegel also highlighted the Spectacles AR glasses that it launched earlier this year. “Hundreds of Creators from 30 countries have now developed AR Lenses for Spectacles, overlaying computing on the world in an immersive and interactive way,” Spiegel said. The AR glasses though are not commercially available like its previous generations which offer only camera recording capabilities. In addition to areas like Discover for content, Spiegel said Spotlight, Snapchat’s TikTok-like short videos platform is growing rapidly. In the last quarter, Spotlight viewers subscribing to Snapchat creators increased twice as much as the previous quarter. There’s also a 3x increase in monthly posts by creators compared to when it launched a year ago. Disclaimer : Both Snap and Business Insider operate in partnership with Times Bridge in India SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-patent-reveals-the-company-is-working-on-a-rollable-display-mobile-phone/articleshow/89338444.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/tech/news/facebook-blames-prepaid-tariff-hike-in-india-for-slow-user-growth/articleshow/89321413.cms" data-type="tilCustomLink">Facebook blames prepaid tariff hike in India for slow user growth</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-patent-reveals-the-company-is-working-on-a-rollable-display-mobile-phone/articleshow/89338444.cms" data-type="tilCustomLink">After foldable phones, the next big upgrade from Samsung could be a rollable design</a>

Snap CEO credits AR lenses, short videos for its first profit in over 10 years — says India expansion was 'successful’

<ul><li>Snapchat, at its first ‘Partner Summit’ announced new products that could help increase its stagnant user base.</li><li>Building its camera platform for other apps like, like Tinder and Houseparty, will allow it to have access to new users — and futureproof its technology against another Facebook-like incident. </li><li>The Snap Audience Network will allow the company to run ads inside apps that aren’t Snapchat also allowing access to a new set of users.</li></ul>In increasing competition in the social networking space is increasing and Snapchat is far from dropping out of the race. At its very first ‘Partner Summit’, Snap — the company that owns Snapchat — <a href="https://www.snap.com/en-US/news/">announced</a> new partnerships that could help cushion future disruptions. Facebook already rolled the carpet out from under Snapchat when it <a href="https://www.businessinsider.in/everybody-thinks-facebook-stories-is-a-lame-snapchat-clone-but-its-showing-signs-of-being-a-huge-sleeper-hit/articleshow/67606446.cms">launched</a> its own version of ‘Facebook Stories’. Having learnt from that, Snapchat is now going to build its story sharing platform for other apps, like Tinder and Houseparty. It’s also improving on its camera technology and software by introducing augmented reality (AR) that works on more than just faces. The functionality of Snapchat’s famous ‘Scan’ feature is also set to improve allowing users to solve math problems and having dollar bills come alive. Building Snapchat for platforms like Tinder will also allow Snapchat to have access to markets where it isn’t very popular, like India where Snapchat went for a <a href="https://www.thehindu.com/sci-tech/technology/snapchat-ratings-drop-to-one-star-on-app-store/article18071273.ece">nosedive</a> when Snapchat’s CEO, Evan Spiegel, <a href="https://www.businessinsider.in/snapchat-is-doing-damage-control-after-its-ceo-allegedly-said-the-app-is-only-for-rich-people/articleshow/58212118.cms">reportedly</a> said that India was “too poor” for any expansion plans. Tinder is currently the highest grossing app in India’s Play Store. But, solving the problem of its <a href="https://www.businessinsider.in/as-snapchat-growth-stalls-out-facebook-stories-hits-150-million-daily-active-users/articleshow/64228891.cms">stagnant user base</a> doesn’t end there. Snap’s new ‘Snap Audience Network’ will allow the company to run ads inside apps that aren’t Snapchat. Partners will have access to Snapchat’s inventory vertical video ads, and in turn, Snap will get a certain percentage of the ad revenue. It’s functionality seems to be akin to that of Facebook’s Audience Network. But, that also means that Snap’s going to access to more user data. They have cautiously promised to be <a href="https://www.businessinsider.in/snapchat-takes-on-facebook-as-evan-spiegel-mocks-mark-zuckerbergs-privacy-problems/articleshow/68733396.cms">more responsible</a> with it than Facebook. Snap is also expanding its revenue streams through launching built-in games on the platform and creating more original content under Snapchat Originals. It’s another way to create more reasons for people to stay in the app so that they watch some shows and play some games, while also entertaining a few ads. Even so, announcing these plans is one thing and their success will depend on how they’re actually implemented. See also: <a href="https://www.businessinsider.in/snapchat-takes-on-facebook-as-evan-spiegel-mocks-mark-zuckerbergs-privacy-problems/articleshow/68733396.cms">Snap is taking Facebook head on with its jibes on Zuckerberg’s excesses on privacy</a> <a href="https://www.businessinsider.in/snapchat-makes-a-huge-gaming-push-with-a-real-time-multiplayer-platform-containing-original-and-partner-in-app-games/articleshow/68729966.cms">Snapchat makes a huge gaming push with a real-time multiplayer platform containing original and partner in-app games</a> <a href="https://www.businessinsider.in/instagram-copied-snapchats-stories-format-with-posts-that-disappear-in-24-hours-now-snapchat-is-upping-the-ante-by-taking-stories-everywhere-/articleshow/68729619.cms">Instagram copied Snapchat's Stories format with posts that disappear in 24 hours. Now, Snapchat is upping the ante by taking Stories everywhere.</a>

You Searched For "snap in india" and got 12 results

Snapchat reaches 100 million monthly users in India, partners with Flipkart, Zomato and MyGlamm for AR integrations

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Snapchat brings paid subscription service to India amid layoffs, poor growth

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