Snapchat expects to generate up to $350 million in revenue this year
Michael Loccisano/Getty Images
That would represent a nice uptick from the $50 million that Snapchat had reportedly set as its 2015 revenue target, and the latest indication that the social networking tool of choice for the millennial generation is turning its popularity into a real business.
Snapchat has created various advertising offerings on its mobile app, including ads that appear alongside its Live Stories as well as sponsored lenses that users of the service can gussy up their photos with.
For a company with a $16 billion valuation, Snapchat's revenue is still in nascent stages. But investors are betting that Snapchat's popularity with young users will give it a solid foundation to turn on the money jets in the coming years, as Facebook did before it. In fact, Snapchat recently hired Facebook advertising tech executive Sriram Krishnan to help it develop self-serve ads.
Snapchat did not immediately return a request for comment.
Next Story
Tesla tells some laid-off employees their separation agreements are canceled and new ones are on the way
Taylor Swift's 'The Tortured Poets Department' is the messiest, horniest, and funniest album she's ever made
One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
RCB player Dinesh Karthik declares that he is 100 per cent ready to play T20I World Cup
9 Foods that can help you add more protein to your diet
The Future of Gaming Technology
Stock markets stage strong rebound after 4 days of slump; Sensex rallies 599 pts
Sustainable Transportation Alternatives
