During the event, the company announced a partnership with homegrown e-commerce marketplace, Flipkart, to develop AR experiences for e-commerce…reports Asian Lite News
Snapchat is utlising its monetisation and community growth learnings from the India market to tap into new geographies, Snap CEO Evan Spiegel has said.
Instant messaging platform Snapchat has crossed 100 million monthly users in India and according to Spiegel, the company has made a concerted effort over the past year to organise its team and make investments in its products to realise monetisation and community growth opportunities.
“Our expansion efforts in India continue to prove successful, and we are using our learnings to inform how we approach community growth in new geographies,” he said during the company’s quarterly earnings call late on Thursday.
“Our desire to build a better way of communicating visually through our camera has evolved into a leading platform for augmented reality. Our AR products and services are driving major impact at scale today, as Snapchatters use our services to shop, play, learn, explore, and entertain themselves,” he added.
In October last year, Snap Inc, the parent company of Snapchat, revealed for the first time that it reached 100 million monthly users in India.
The announcement was made during the second edition of ‘Snap in India’, an event to celebrate the company’s community of Indian partners, creators, brands, storytellers and “Snapchatters”.
During the event, the company announced a partnership with homegrown e-commerce marketplace, Flipkart, to develop AR experiences for e-commerce.
The company also said that Snap Map has entered into a partnership with Zomato – the first Snap Map partnership in India. This allows Snapchat users access to restaurant information and place food orders from their personal Map on Snapchat, claims Snap.
Snap also launched a free programme in India called ‘Yellow Tree Bootcamp’ which brings together experts from Snap and the Indian startup community to discuss fundraising, operations, growth, including how to leverage tools like Snap Kit and Snapchat Ads Manager to grow.
The company recently launched Creator Marketplace, which allows brands to connect with creators directly and pay them to produce branded content. AR Lens Creators in India are currently participating, and it will be rolling out to Snap Stars in India soon.
“We have made significant investments to localise the Snapchat experience for the Indian community,” Spiegel had said.
Daily active users pop up to 319 million
Snap, the parent company of Snapchat, has become profitable for the first time, with reaching 319 million daily active users (DAUs) — a 20 per cent growth (on-year).
In the fourth quarter of 2021, Snap reported $1.3 billion in revenue (up 42 per cent) with a net income of $22.6 million.
The company posted 64 per cent growth in its full-year revenue.
“2021 was an exciting year for Snap and we made significant progress growing our business and serving our global community,” said CEO Evan Spiegel.
“The strength of our core business has enabled us to accelerate our investments in augmented reality, transforming the way that the Snapchat community experiences the world through our camera,” he said in a statement late on Thursday.
The growth in DAUs has been 20 per cent or more for five consecutive quarters.
It appears that Apple’s iOS privacy changes that have affected several platforms did not have much impact on Snap’s growth.
In Q4 2021, 25 different Discover partners each reached over 50 million unique Snapchatters globally, including Universal Music’s Rebel Labs, social publisher Jungle Creations’ lifestyle content, and Team Whistle’s sports content.
The company launched two Snap Map Layers, Memories and Explore, which allow users to view their saved Snaps by location and explore new ones around the world and have been used over 100 million times since launch.
“We partnered with e-commerce company Flipkart and cosmetics companies Sugar Cosmetics and MyGlamm to bring more AR shopping and virtual try-on experiences to Snapchatters in India,” Snap said.
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