Snapchat has just unveiled the “lens store,” a place where users can buy additional photo lenses for $US0.99 (£0.69). The company will continue to offer free lenses every day, but there will now be a further 30 which, if purchased, will stick around forever, according to The Verge.
Snapchat’s lenses have proven incredibly popular so far, appearing in over 10 million snaps every day. According to Snapchat, geo-filters (such as “London Life”) appear in around one million photos per day.
Snapchat currently has 100 million users.
Photo lenses can be branded and Snapchat is working on partnerships with clients, such as EON Productions (who made “Spectre”). According to Re/Code, Snapchat — which is valued at $US16 billion (£10 billion) — is aiming to bring in $US50 million (£32 million) in revenue during 2015.
The move comes after Fidelity, a mutual fund, wrote down its investment in Snapchat by 25%. After the company rejected a $US3 billion (£1.9 billion) offer from Facebook, there has been a real drive to increase the revenues of the company alongside usage figures.
Snapchat has previously charged a small amount to “replay” multiple snaps after the 10-second timeframe has elapsed and it would appear that the company is now expanding into other areas.
The ability to buy lenses is being rolled out to the United States, Canada, the United Kingdom, Australia, Brazil, and Saudi Arabia (alongside other un-named European countries), according to Snapchat.
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