Snapchat is getting on Tinder to avoid another Facebook-like catastrophe

• Snapchat, at its first ‘Partner Summit’ announced new products that could help increase its stagnant user base.
• 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.
• 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.

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 — announced new partnerships that could help cushion future disruptions.

Facebook already rolled the carpet out from under Snapchat when it launched 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 nosedive when Snapchat’s CEO, Evan Spiegel, reportedly 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 stagnant user base 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 more responsible 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:
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