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News on Medial
Highest number of lenses published on Snapchat come from India: Snap CTO
Economic Times
·
6m ago
Medial
Snapchat has seen remarkable growth in India, with the country leading in the number of augmented reality (AR) lenses published. The AR developer community in India has grown by 50% over two years, contributing significantly to Snapchat's global ecosystem of over 375,000 creators and 4 million AR lenses. With more than 200 million users in India, AR has become integral to creative expression and communication. Snapchat's success in India was highlighted at the India AR Day event.
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Snapchat empowering 200 million users in India with AR experiences: CEO Evan Spiegel
Economic Times
·
1y ago
Medial
Snapchat CEO Evan Spiegel expressed excitement about the explosive creativity happening in India and highlighted the potential of AR experiences in the country. With 200 million users in India, Snapchat plans to bring the festive spirit to life for its Indian users with Diwali-themed AR lenses. Spiegel emphasized the importance of AR in India's future and the opportunities it brings for self-expression and learning. Snap is committed to empowering creators and supporting their aspirations through monetization avenues and innovative tools. The Indian AR creator community on Snapchat has witnessed significant growth and Snap recently launched the Lens Creator Rewards program to reward top-performing AR creators.
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Snapchat eyes GenZ cohort with personalised experiences to drive user growth
Thehindubusinessline
·
1y ago
Medial
Snap Inc. is focusing on attracting more GenZ users in India for its Snapchat messaging app. With India's large young population, the country presents a significant growth opportunity for the company. Snapchat offers unique features, such as AR filters and lenses, location-based feeds, and short video content, which appeal to young users. Currently, Snapchat has a user base of 200 million monthly active users in India and aims to expand further. The company also aims to tap into the Indian digital advertising market, leveraging the rise of e-commerce and influencer marketing.
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Snap partners OpenAI for developers to use ChatGPT in Lenses
Economic Times
·
1y ago
Medial
Snap, the parent company of Snapchat, has partnered with OpenAI to provide developers with access to ChatGPT in their Lenses. This collaboration allows for the creation of interactive and conversational experiences within Snapchat by leveraging OpenAI's GPT technology. As part of the Lens Studio 5.0 Beta, developers can also utilize a 3D face mask generator and version control tools for project management. With over 330,000 developers on Snap's AR platform, this integration aims to enhance the creativity and engagement of Snapchatters.
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Snap adds new tools for building Bitmoji games | TechCrunch
TechCrunch
·
3m ago
Medial
Snapchat is launching new Lens Studio tools for AR creators to build Bitmoji games, including a Bitmoji Suite and dynamic game Lenses. These tools enable turn-based gameplay, customizable Character Controller options, and updated leaderboard templates. The Bitmoji Suite allows users to personalize Bitmoji with custom outfits and animations. Snap also introduces single-player and turn-based Bitmoji Game Lenses, encouraging developers to participate in the Bitmojiverse Challenge with the opportunity to win cash prizes.
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Snapchat beats revenue and user growth estimates, announces $500 million buyback
Economic Times
·
10m ago
Medial
Snap, the parent company of Snapchat, exceeded Wall Street's expectations in terms of quarterly revenue and user growth. The company has been successful in attracting advertisers back by improving its ad features. Snap also announced a share repurchase program worth up to $500 million. While Snap initially experienced a stock decline after the news, shares eventually rose to $12. The company has faced challenges from competitors like Facebook and Meta Platforms, but has invested in machine learning and made advertising on Snapchat more accessible to small and medium-sized businesses. In Q3, Snap's revenue reached $1.37 billion, surpassing the average analyst estimate. Snap anticipates Q4 revenue between $1.51 billion and $1.56 billion, and the company expects its new ad formats to boost demand from large advertisers. Daily active users grew by 9% YoY to 443 million, surpassing analyst estimates of 441 million. Snap also reported adjusted earnings per share of 8 cents, higher than the anticipated 5 cents.
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How Is Snapchat Building Its India Growth Story?
Inc42
·
1y ago
Medial
Snap Inc., the parent company of Snapchat, is aiming to attract young Indians by offering a more personalized and less superficial social media experience. Unlike its competitors, Snap focuses on freeing users from the constant chase for likes, comments, and trolls. The company is targeting Gen Z users and differentiating itself with high-tech augmented reality camera filters. Snap's revenue in India increased by 20% in FY23, and it aims to tap into India's rising digital advertising market, which is projected to double by 2028. With digital advertising revenues on the rise, Snap hopes to capture a significant portion of India's 900 million+ smartphone user base.
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Snap failed to warn users about sextortion risks, state lawsuit alleges
Livemint
·
11m ago
Medial
- Internal documents reveal that Snapchat was receiving 10,000 reports of sextortion each month in November 2022, with the actual number likely being much higher due to underreporting. - Snap was informed that the combination of its young user base and disappearing messages could lead users to believe that sexting on the app was safe. - An internal marketing document acknowledged that sexting had become a regular behavior among Generation Z, presenting a challenge for Snap to promote safety without discouraging usage. - Despite concerns about sextortion, Snap claims that sexting only accounts for a small fraction of messages exchanged on the platform. - Tests conducted by New Mexico investigators and even Snap employees found fault with Snap's safety-enhancing features, including continued exposure of minors to adult strangers through its "Quick Add" friend recommendations feature. - The state accuses Snap of pursuing growth initiatives that pose risks to young users and designing features that increase engagement while hindering user self-regulation.
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Amazon reaches deal to run shopping ads on Snap
Economic Times
·
1y ago
Medial
Amazon will enable Snapchat users in the U.S. to purchase products directly from the social media app, mirroring a deal with Meta Platforms. Users can shop from Amazon's Snapchat ads and check out within the app. Real-time pricing, Prime eligibility, delivery estimates, and product details will be available for select Amazon product ads on Snapchat. This move aligns with Amazon's strategy to expand product offerings through social media platforms and benefits Snap, as it experiences revenue growth and increased advertiser interest.
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Snap launches AI tools for advanced augmented reality
Economic Times
·
1y ago
Medial
Snap Inc, the owner of Snapchat, has unveiled its latest generative AI technology. This advancement aims to enhance the realism of special effects when users film themselves using their phone cameras. Snap Inc is known for its pioneer work in augmented reality (AR), and it has also introduced an upgraded version of its developer program, Lens Studio. This program allows artists and developers to create AR features for Snapchat and other platforms. The improved Lens Studio offers advanced AR special effects, reduces creation time, and introduces generative AI tools. Snap Inc plans to expand AR experiences beyond just facial effects to include full-body experiences like generating new outfits.
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How much Snap pays employees in the US
Business Insider
·
1y ago
Medial
Snap, the parent company of Snapchat, is actively hiring in the US following layoffs earlier this year. Despite a lukewarm 2023, with flat annual revenue growth, Snap aims to expand its workforce in key areas including engineering, product, and sales. Analysts predict that a boost in political advertising in 2024 could help drive revenue growth this year. The data obtained from the US Department of Labor's Office of Foreign Labor Certification shows that Snap offered annual salaries ranging from $45,282 to $1.95 million for various roles, with a median salary range of $148,013 to $180,000.
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