Snapchat boosts its advertising clout with new API launch

Snapchat has announced the launch of its much-anticipated advertising application programming interface (API), a programmatic interface that makes it easier for advertisers to buy campaigns on the platform. Third parties will now be able to sell Snapchat ads, although Snapchat will, at least initially, inspect every ad. The API is divided into Ads Partners, who will develop software for Snapchat advertisers, and Creative Partners, a range of social content companies experienced with Snapchat's vertical video format. An API partner described exceptional advertiser demand for Snapchat, with new budgets being allocated specifically for the platform. The social media site reportedly has 150m daily users reaching 41% of US consumers aged 18-34, who spend 25 to 30 minutes per day on the app, and a MediaScience survey showed Snapchat ads achieve visual attention twice that of Facebook, 1.5 times more than Instagram, and 1.3 times greater than YouTube.

Imran Khan was an internet-focused investment banker at Credit Suisse, where, in September 2014, he orchestrated Chinese ecommerce giant Alibaba's high-profile IPO. Three months later, his star rose higher when he was named Snapchat's first chief strategy officer, charged, many observers figured, with prepping the tech darling for its own eventual IPO. But in fact, Khan's marching orders from CEO Evan Spiegel at the outset were more fluid than one might imagine.