Snapchat is looking to ignite revenue and to do so they are looking to expand their service to include advertising. The company says even though ads may soon appear via the messaging app, just like photos users share, the ads will also disappear.
The company is meeting with potential advertisers to join its new Snapchat Discovery, which would be the company's first full-fledged effort in creating revenue from its app, which has seen a number of huge valuations in recent months.
Facebook attempted to acquire the app company for $3 billion, but Snapchat passed, saying the valuation for the company was too low. The, in July, Alibaba was poised for a major investment with the company seeing a valuation of $10 billion, but Alibaba didn't move forward.
According to one report, many potential advertisers are expressing interest in Snapchat Discovery, which observers claims gives users the ability to press down on a button in order to see advertiser's clips just ass they would images and messages from friends.
Also on tap is a news feed that will give users access to articles. Those too, will disappear after a set time period.
Even as the positive news rolls in for Snapchat, the messaging app is still dealing with a number of security issues and privacy concerns, Tech Times reports.
In May, a report published by the Electronic Frontier Foundation listed the top technology companies based on their trustworthiness when it comes to users personal information. Snapchat, along with AT&T and Amazon.com, came in far behind most other tech companies in their ability to maintain optimal security for users.
"This is particularly troubling because Snapchat collects extremely sensitive user data, including potentially compromising photographs of users. Given the large number of users and non users whose photos end up on Snapchat, Snapchat should publicly commit to requiring a warrant before turning over the content of its users' communications to law enforcement," said the 73-page analysis.
As Snapchat aims to add revenue to its profile, the company is also attempting to rectify concerns users have over their personal privacy when using the messaging service.