Snapchat eyes self-destructing news business
Ephemeral photo messaging app Snapchat could soon offer more than just pictures and videos as it is reportedly in talks with a host of media companies and advertisers about offering perishable news and ads to users.
According to a report in the Wall Street Journal, the so-called Snapchat Discovery service will let users read news and watch ads just as they currently see photos and videos from friends, by holding down a finger on the screen for up to 10 seconds.
Media giant MailOnline, the online division of The Daily Mail, was reportedly one of the 12 content providers involved in the discussions with Snapchat.
The new service could launch as soon as November.
With an estimated 27m users, and up to 700m snaps being sent each day, the California-based company is a tempting prospect for advertisers and media moguls alike.
Snapchat Discovery could give the company’s 24-year-old chief executive Evan Spiegel a major opportunity to generate revenue and show off Snapchat’s value to potential investors.
The new service will be of particular interest to advertisers looking to market to a younger, more tech-savvy audience.
Last year, Snapchat raised funding at a valuation north of $2bn (£1.2bn) and rejected two rival $3bn acquisition offers from Facebook and Google. Snapchat declined to comment.