Snapchat’s woes show no sign of ending, and the latest casualty in the company is Snapcash, the peer-to-peer payment service. It’s likely that you’ve never heard of — much less used — the service, which makes its shuttering less of a surprise.
Part of Snapcash’s problem is that it wasn’t always used for the most innocent of purposes. Rather than splitting bills or sending back some money for the pizza you stole from your roommate, Snapcash tended to be used to pay adult entertainers for content on Snapchat. In short, it was probably more bane than boon to Snapchat proper.
Snap Inc. will make its debut as a publicly traded company on the New York Stock Exchange Thursday morning.
The parent company of Snapchat priced an initial public offering of 200 million shares at $17 apiece. That raised $3.4 billion for the company and some investors, and gives Snap a valuation of nearly $24 billion.
The stock is currently indicated to open at between $22 and $24 a share, according to price indications at 10:15 a.m. E.T.
It’s been a fine week of digital marketing stats, so check out the nine data points below that got our attention:
1. Instagram-Snapchat face off
Adweek commissioned a survey from Survata that asked 511 Instagram and Snapchat users ages 13 to 34 how they feel about the apps and their impressions of the ads. Two of the more fascinating findings: 26 percent of respondents remembered seeing specific Snapchat ads, while 37 percent remembered seeing specific Instagram ads.
In the rapidly evolving landscape of marketing, businesses are constantly required to come up with improved ways to promote themselves and attract valuable leads. The rising customer expectations have led businesses to develop new strategies to meet and exceed the demands.
One of these strategies that have gained momentum recently is video marketing.
There is hardly any doubt about the fact that video-driven platforms are well-received by today’s generation. In fact, Snapchat has overtaken Twitter with a user base of more than 150 million every day compared to the 136 million daily users of Twitter.
Such increased popularity of videos has convinced businesses to rethink their digital marketing strategies and include videos to attract a flood of customers.
Facebook-owned photo-sharing platform Instagram is flexing its platform muscle by shutting down ‘add me’ deeplinking for some other social media services within its apps.
Previously Instagram users were able to include ‘add me’/’follow me’ links in a website section on their profile page, directly linking out to any other profiles they had on third party social services’ apps. Now attempting to type one of these links to a Snapchat or Telegram profile, within the Instagram app’s website field on a user’s profile, results in the following message…