Previously a completely free-to-use application, Snapchat will now be offering users three replays of its otherwise “self-destructing” messages for $0.99.
Snapchat was set up by Stanford University students Even Spiegel, Bobby Murphy and Reggie Brown in 2011, with the format being receivers of messages can view them for anywhere between one and ten seconds before they are deleted entirely.
So far it has received venture capital investment totalling $1.2bn, with its most recent, and largest, round bringing in $337.6m in May 2015.
In a statement published though the Snapchat blog, it was revealed that: “Today, US Snapchatters can purchase extra Replays, staring at three for $0.99. You can use a Replay on any Snap you receive, but only Replay any Snap once. They’re a little pricey – but time is money! ;)”
Social media and messaging platforms such as Snapchat, Instagram and Pinterest (and to a lesser extent Twitter) have come under increasing pressure to find ways of turning millions of users into a revenue stream. Snapchat’s in-app purchases signify the beginning of what will ultimately be a series of further monetisation plans which it hopes do not put users off the experience.
Already it has integrated video advertising, location-themed digital sticker ads and some merchandise sales.
Read more about Snapchat:
- BuzzFeed and Snapchat CEOs announce plans for IPOs
- Could Snapchat be valued at $10bn?
- Revealed: The overvalued $1bn+ unicorns “flying too close to sun”
The Snapchat statement also read: “We’re thrilled to announce a whole new way to express yourself on Snapchat. When you’re using the camera to take a selfie, just press and hold on your face to activate Lenses.
“You can play with Lenses before taking a Snap – just select one from the row at the bottom and follow the on-screen instructions.”
The ability to use different lenses came about after the technology company itself made an acquisition – San Francisco-based startup Looksery.
Snapchat said that realising replaying a message is “like a compliment” led it to creating an option to purchase additional Replays on top of the existing one per day.
Share this story