When Silicone Valley based startup Snapchat turned down a $3 billion offer from Facebook, most analysts thought they were crazy. After all, the service is primarily used to send “private” pictures to friends and lovers – so how could it ever be monetized?
Snapchat is now hoping to answer that question by offering ad space to companies. They recently poached the head of advertising for Instagram, and are hoping to roll out a well-structured advertising platform in the coming months. But whether or not this monetization model will be successful still remains to be seen.
I’m curious on your thoughts here. Would you try advertising your business through Snapchat? Do you think that this social app has staying power, or is it just another digital fad that will soon go the way of Myspace?