From Disappearing Messages to Appearing Profits: Snapchat's Indian Success Story

In a landmark development for digital India's landscape, Snap Camera India, the parent company of Snapchat, has crossed the 100-crore mark in revenues for the first time. The company reported a 28% increase in revenue on a year-on-year basis, from Rs 79 crore in FY23 to Rs 101 crore for FY24. Net profit saw an increase of 25%, touching nearly Rs 10 crore. This milestone points to the increasing significance of Snapchat in today's India, with over 200 million people on the platform. Its success stems from targeting the youth, with 48% of users between 18 and 24 years of age, beside treating Spotlight as an investment in the creator economy. With the constant evolution, Snapchat is strengthening its position as one of the players in the competitive social media landscape in India. 

 

Source: Exchange4Media