Do you constantly maintain snaps? Do you count the number of Snapstreaks that you send to your friends? A Snapstreak keeps a count of the number of snaps two people send in a row. Bengaluru people are one of the most active users of Snapchat, with 85 per cent of them using it.
The survey done by YouGov also highlights that 78 per cent of individuals in Bengaluru value Snapchat as it has the capacity to enable enjoyable connections with loved ones. Similarly, 66 per cent also acknowledge its role in going away with the pressure of creating social content. So, they consider it an authentic platform for young people.
The India Journey
Snapchat was launched in India in 2019. In 2023, the company reached 2 million active users in India. "Young India has particularly valued the healthy and private environment that has been at the heart of our experiences, and this will continue to be our focus going forward," Snap, APAC President, Ajit Mohan (Asia-Pacific region), said during that occasion.
Since Gen Z’s income will quadruple to $33 million, consumption will be driven by Gen Z. Further, India has 20 percent of Gen Zs worldwide, said Pulkit Trivedi, India managing director of Snap to the Times of India (TOI).
Trivedi further added that he is optimistic about the Indian internet economy. According to Business Standard, he said, “The digital advertising market has seen a significant surge at around $10 billion in 2023, with projections indicating that this will more than double by 2028, driven by growth in online commerce, online video consumption, and the rise of influencer marketing led by content creators.”
In FY23, the company’s revenue grew 20 percent to Rs 79 crore in 2022–23. It was Rs 65.7 crore in the previous fiscal.
As the social media platform with the logo “Share the moment” reaches a wider base, the company has been actively using AI. Last year, it allowed users to use AI-generated Snaps. It has its own AI-powered chatbot named My AI.
“Over 150 million people have sent over 10 billion messages to My AI, making My AI among the largest consumer chatbots available today,” Snapchat said in a blog post in 2023. However, a British data watchdog has said that Snapchat may not have adequately evaluated the privacy risks posed to children by its AI chatbot.
