Snapchat has partnered with the advertising firm Tyroo to grow its advertising business in the country. With this partnership, Tyroo will help drive ad monetization and infrastructure for Snapchat in the Asia Pacific region.
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Snapchat currently has 9 million users in the country and its content reaches more than 191 million users globally each day; this includes millions in the country. The users spend about 30 minutes on an average on this app daily and visit the app 25 times. In 2017, Snapchat had faced a backlash when the CEO Evan Spiegel commented that the app was only for rich people and he did not want to expand it into poor countries like India. This is when users in India started uninstalling the app and the user ratings on Google Play Store had dropped. Later, the company denied the claim.
Snapchat will introduce its three primary products in India and the potential brands to leverage the same. These include augmented reality driven lens product, its story platform and its filters. The partnership will solely focus on India at this point. Snapchat is already under pressure from the market and the advertisers following the poor quarterly results which saw a miss in the expectations of the analysts. For the year ended March 31, its daily active users rose to 191 million but fell short of the Street expectations of 194.15 million and it also missed the quarterly revenue estimates.
Tyroo also announced that it had appointed Akshay Mathur as the new Chief Revenue Officer in order to drive growth in the partnership. He was previously working with SVG Columbus which is a Dentsu Aegis Network company and prior to that he worked with Komli Media for seven years. Tyroo is headquartered in Gurgaon and is a Smile Group Company. It looks after the advertising business for companies like Facebook, Yahoo!, Linkedin, Twitter and many more.