For years, investors have wondered about the long-term prospects for Snap Inc and Pinterest Inc, smaller digital ad players which have had to pick up the ad dollar scraps left over from giant tech rivals.
Apple's privacy updates, called App Tracking Transparency, began rolling out to its iOS devices in April and gave users the option to block apps from tracking activity across apps and websites owned by other companies. The company, which owns photo messaging app Snapchat, began working more than a year ago to figure out how to target ads to users"in a privacy-safe way," which helped Snap make progress before the Apple data-tracking changes upended the market, Andersen said.
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