Snapchat to launch Sponsored lenses

Snapchat, the Social media giant is launching a new advertising campaign known as “Sponsored Lenses” to be unveiled on Halloween. This follows the introduction of the “Lenses” feature, allowing users to add special effects to the pictures they share.

Snapchat, a video messaging application, was started by Bobby Murphy and  Evan Spiegel as a project for one of Spiegel’s classes at the Stanford University, where he was a product design major. Using Snapchat users can take photos, record videos add text and drawings and send them to a controlled list of recipients with time limits for how long recipients can view their snaps as of September 2015 the range is from 1 to 10 seconds after which Snapchat claims they will be deleted in the company’s servers. Snapchat users were sending 700million photos and videos per day whilst it stories content was being viewed 500 million times per day. The company formed in 2011 has  a valuation of  £13million $20million . According to Forbes magazine Evan Spiegel is with  £1.37 billion $2.1 billion.

Advertisers will be able to pay  £487, 500, $750,000 for peak days and £292,500, $450,000 for off-peak for their own special effects.