Snapchat, the mobile app which allows users to share photographs that are automatically deleted within seconds, has announced it will be introducing ads "soon".
Co-founder and chief executive Evan Spiegel revealed that the social media startup will be launching an advertising service shortly, following in the footsteps of social media giants Facebook and Instagram.
But unlike its Silicon Valley rivals, Snapchat will opt for untargeted advertising instead of ads tailored to users, Spiegel told a Vanity Fair Conference.
His comments follow unconfirmed reports that Yahoo had earmarked Snapchat for a $20 million investment at a $10 billion valuation. Alibaba, the Chinese e-commerce site which recently went public in a record IPO, was also reported to have shown interest but decided against pursuing it further.
Despite its popularity among users, the app is not without its controversies. Critics have deemed it a “sexting” app, used primarily by teenagers to exchange nude photos, with little guarantee of privacy. Yesterday, Spiegel said he did not how many Snapchat members use the app for sexting.
The company was also subject to controversy after a series of university e-mails from Spiegel, where he made references to drug use, drunk sex and misogynistic behaviour, appeared online.
He later apologised for his "idiotic" behaviour, reiterating his apology during yesterday's conference. He added: "I work for a team who believe you can be an idiot frat boy and also become someone more thoughtful and considerate."Reuse content