Snapchat’s Foray Into Ad Tech
Snapchat has taken the smartphone world by storm since the application’s initial 2011 release. The selfie-centric app has evolved into one of the most prominent social media platforms on the market. This success can be attributed to the constant updates that add features, such as their ingenious filters or geotags that keep users coming back on a daily basis.
Snap Inc. (formerly known as Snapchat Inc.) has been busy lately. The company’s recent ventures include its first hardware product, the acquisition of Bitstrips, and the massive rehaul of its chat function [Chat 2.0]. Snap Inc. also began selling advertisements in 2016, although it only allowed 100 clients to buy ads during the initial rollout of the API.
Snap’s API is now polished enough to come out of beta, allowing the company to sell ads to any advertiser using the bidding algorithm. This automated sales process is very similar to the API used by Facebook and Twitter. The launch of this technology is likely in preparation for Snap Inc.’s long awaited IPO.
Snap seems to be very invested in improving the quality of ad campaigns, and hopefully this technology will support the ongoing production of quality content.