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Snap Inc. Plans Launch of Simplified Snapchat App and Expands Spectacles into New Markets

news Snap Inc. Plans Launch of Simplified Snapchat App and Expands Spectacles into New Markets Snap Inc. is gearing up to unveil a "Simple" version of its Snapchat app in the first quarter of 2025, as shared by the company's CEO during the recent quarterly investor call. The organization has reported a noteworthy increase of 37 million active users globally in the third quarter of 2024, bringing the total user count to 443 million. Additionally, the latest generation of Snapchat Spectacles will find its way into more international markets. In its financial summary for Q3 2024, Snapchat noted a 15 percent rise in quarterly revenue compared to the previous year, reaching $1.3 billion. This growth occurred despite the firm recording a net deficit of $153 million. Furthermore, the duration users spent engaging with content on the platform increased by 5 percent year-over-year, with one billion Snaps shared monthly during that period. Building on its recent achievements, CEO Evan Spiegel disclosed plans for the new "simple" Snapchat app aimed to launch in early 2025. The app is currently undergoing testing with over 10 million users across more than 12 different markets. The company intends to further expand its rollout into regions with stronger monetization potential in the upcoming quarter. The new app is designed to attract fresh and less active users, where Snap Inc. has identified considerable growth in content interaction. Given that the existing app has evolved to accommodate various innovations, the introduction of the simplified version aims to provide a more straightforward and cohesive experience for fundamental activities, such as viewing stories and browsing Spotlight. Moreover, the company affirmed that the Spectacles—its augmented reality glasses first showcased at the Snap Partner Summit in September 2024—will be made available in additional markets beyond the United States. Soon, these innovative eyewear products will be launched in Austria, France, Germany, Italy, Netherlands, and Spain.

Julia Zimmermann
31-10-2024