Snapchat To Begin Monetization With In-App Purchases

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According to a report from Tech Crunch, the popular disappearing message app Snapchat will soon enter its first phase of monetization, starting with in-app purchases. Snapchat is reportedly already testing out and developing hidden features to see which route to take concerning in-app purchases.

“In-app transactions will come first. 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.” – Evan Spiegel, CEO of Snapchat

The news comes shortly after Snapchat had announced that it had received $60 million in funding from International Ventures Partners.

Spiegel did not go into detail about what the in-app purchases would be exactly, but we will more than likely see features that are popular in many social apps, such as Instagram like photo and video filters, stickers or the ability to send longer snaps.

[Via: Tech Crunch]

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