Snapchat will soon be delivering disappearing ads to its users, according to chief and founder Evan Spiegel.
Spiegel unveiled the news at the Vanity Fair New Establishment Summit in San Francisco Wednesday, according to the Wall Street Journal. Spiegel said that the new ads will appear in Snapchat Stories between shared photos and videos. The ads won't be targeted.
“We’re cutting through a lot of the new technology stuff around ads to sort of the core of it, which I think has always been telling a story that leaves people with a new feeling,” Spiel said. “They’re not fancy. You just look at it if you want to look at it, and you don’t if you don’t.”
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The ads will be the first revenue-producing source for the startup valued at $10 billion. That's not a minute too soon for investors who have been awaiting monetization.
Snapchat is also reportedly working on Snapchat Discovery, a service with disappearing content and ads.Spiegel did not comment on Snapchat Discovery, nor did he give a specific time when the disappearing ads on Snapchat Stories will appear.