Snap stock popped to close up more than 1% on Thursday after the company announced its forthcoming launch of a Snap Audience Network, which will sell ads that appear in apps other than Snapchat.
Snap's descriptions of the network so far have been light on details, but the network may help Snap broaden its appeal to advertisers without having to gain users. Snap's vice president of partnerships Ben Schwerin announced the new audience network during the keynote address of the summit. The offering gives third-party app makers a new revenue stream with Snap's full-screen, vertical ads with"advertisers included," indicating it might make sense for companies that don't have the resources or background in selling ads. In online materials, Snap says its audience network is"built with our privacy-by-design principles top of mind.
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