Snapchat has become very popular, and when popularity ensues: it's time to make some money.
Just after announcing that the company earned a whopping $60 million investment from International Ventures Partners after Snapchat was valuated at $800 million (without revenue), co-founder and CEO Evan Spiegel said the next phase in the evolution of the auto-deletion app is to include in-app purchases. Spiegel said that the company has already been toying with some hidden features and experimenting with what they think works the most.
“In-app transactions will come first,” Spiegel said. “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.”
Expect these in-app purchases to first focus on more editing features, increased video length, or personalization, such as homepage customization.