Snapchat CEO warns of ‘brand damage’ arising from targeted ads
Snapchat's CEO has spoken out against the growing popularity of targeted ads by warning that they may indirectly inflict ‘brand damage’ on those resorting to the technique.
Speaking to Adweek Evan Spiegel said: “Some of the stuff that happens on the Internet—like when a product you didn't end up buying follows you around—that ends up feeling strange and maybe even winds up doing brand damage."
Snapchat is itself in the midst of an expansion drive but Spiegel ruled out targeted advertising as a model for driving this growth.
The self-destruct app rose to prominence courtesy of its commitment to erasing the digital footprint of its users, a narrative it is keen not to sully by dallying with any form of consumer tracking, no matter how lucrative. Spiegel explained: "We have a really big business here that also respects the privacy of people who use Snapchat.
“We're going to stay away from building really extensive profiles on people because that's just bad and doesn't feel very good.”
Snapchat has been valued at as much as $16bn.