During a recent earnings calls with analysts, Evan Spiegel said, India is a huge market and can be a whole lot beneficial for the company. So, snapchat will be investing more in the country.
“One of the things that we’ve seen work well, there has been releasing custom and culturally relevant augmented reality experiences and increasingly more content.”
In his opinion, the Indian market finds visual communication fascinating. Hence, the chances of growth in India are relatively high.
Despite his statements, he did not disclose how Snapchat will be making investments.
Snapchat bets big on India!
Since the past few years, the focus of Snapchat has considerably increased in the Indian market. In August 2019, the company opened its office in Mumbai, the financial capital of the country. The reason for this opening was the 40% rise in the number of daily active users.
As of now, the company is working to strengthen its partnerships and local advertisers.
A revamped version of Mobile Application!
In the year 2019, Snapchat also launched a revamped version of its Mobile Application. It was specially designed for India and other markets. Besides, they also added support for numerous other languages, including Kannada, Tamil, Telugu, Hindi, Bengali, Marathi and Punjabi.
According to the researched data, India is the second-largest market for the company after the USA.
In the Indian market, their main competitors are other platforms, including TikTok and Instagram.
Snapchat Usage hikes post Lockdown!
Due to the ongoing COVID-19 Crisis, almost half of the world is quarantined. In consequence, people are now more inclined to snapchat. There was a reported hike in Snapchat Usage all across the globe. Spiegel said that the company had recorded a 20% hike in its user base in the year 2020. There are reported rise in group activities, like calling, chat, and games.