Snapchat today announced that it has partnered with ad-technology platform Tyroo as monetization partner in India. Snapchat currently has over 191 million users globally and about nine million in India.
Under this partnership, Tyroo which is a Smile Group company who has its headquarters in Gurugram will drive ad monetization and infrastructure for Snapchat fuelling its growth in the APAC (Asia-Pacific) region. Tyroo will manage sales and support for all Snapchat products in India and their revenue management. It is also forming a team of 40 members to build an ad revenue strategy for Snapchat in India and to support marketers.
Snapchat will target a new segment of advertising that will be aimed at consumers consuming image or video content. According to Snapchat, about 20% of all its users in India, use only Snapchat for their social media interactions and this could be an interesting aspect for Snapchat.
Geoffrey Reed, Snapchat’s Head of International Expansion said:
This strategic partnership with Tyroo will allow us to bring Snapchat to more advertisers in India and help them see the value in connecting with our highly engaged users through the most fun and effective ad products on the market. We are confident that Tyroo will be an excellent partner in helping us to expand our advertising business in India.
Siddharth Puri, CEO, Tyroo said:
We’re delighted to work with Snapchat. Our strong local presence and deep market relationships will help support Snapchat’s mission in India. Snapchat is at the forefront of advances in augmented reality as well as performance advertising, and we are eager to bring these offerings to the Indian market.