Inside Snapchat IPO: The Pitch Is to Take TV Ad Dollars

Snap Inc. may have described itself as a camera company rather than a social-media network in its IPO filing on Thursday, but the Snapchat parent buried another clue to its plans deep in the document Snap’s pitch it to become the next destination for advertising dollars that might otherwise go to television – not that millennials and younger generations were even watching. Substantially all of Snap’s revenue comes from advertising, which means it needs to provide its partners with a growing audience and efficient impressions to continue to make those arrangements worthwhile.