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A host of updates, features and services unveiled by Snap Inc. will capture Thursday the evolving Santa Monica-based "camera company" – from a live chat platform to a service broker value-added inspired by the Chinese technology giants.
Why it's important: Snap faces investors' skepticism that its media model of ephemeral photo and video sharing for young people can support an advertising activity the size of Google or Facebook, says Sara Fischer.
- Announcements from Snapchat's first-ever partner summit show that Snap intends to continue to increase its ad revenue while creating revenue-generating services that users can access through apps to increase their engagement with Snap products.
The details: Snap announced the launch of the Snap Audience network, which will allow other companies to run "instant ads" in their own apps. Snap will allow advertisers to sell ads through its technology, while retaining a small share of their ad revenue.
- This is a big deal because it would allow Snap to dramatically increase its ad revenue to compete with Google and Facebook, which have their own ad networks.
- Yes, but: Its launch is not planned for several months and details of the targeting of commercials were rare, as noted by Kurt Wagner of Recode.
Snap also announced major updates for developers and its camera, and has deployed a new gaming platform as well as a list of original series.
- A brand new game platform "Snap Games" will allow users to play multiplayer games in real time with their friends.
- Be smart: Tencent, one of the largest gaming companies in China, bought 10% stake in the company in 2017, which, according to some sources, would have helped to steer the company. Snapchat foray into the video game.
The big picture: This event comes just days after Apple's announcement of a suite of new software services, including a new gaming platform, and by Google's launch of its new gaming service on the Internet. cloud, Stadia.
The bottom line: Technology giants are eager to create better software to drive users to use their software and save money, such as payments, advertising and storage.
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