In an in-depth profile on Snapchat CEO Evan Spiegel, Bloomberg's Brad Stone and Sarah Frier take a look at how the massively popular messaging service is hoping to monetize its platform.
They write, "After starting to run select video ads earlier this year, Snapchat is about to begin soliciting other big advertisers with some new numbers that assert its audience is bigger, younger, and more obsessive than anything on television. In a 23-page sales pitch it’s sending to ad agencies this month, the company says more than 60 percent of 13- to 34-year-old smartphone users in the U.S. are active on the service and together view more than 2 billion videos a day. That’s already about half the number of videos people watch on Facebook, which is seven years older and has 10 times as many members."
Read the full story here.