Snapchat pushed two new features to target Facebook’s ad revenue stream

Snapchat is rolling out two new tools to bolster its ad offerings, one of which is aimed squarely at a key source of Facebook’s mobile ad revenue.

Advertisers on Snapchat will now have access to goal-based bidding for app install ads, an industry term that means an advertiser can target Snapchat users who are likely to install its app. Snapchat is targeting its app install ads, which ask users to swipe up on full-screen video ads, using machine-learning technology it developed in-house.

Aside from app install ads, Snapchat is also beefing up its ad targeting. For the first time, advertisers can target Snapchat users who have previously interacted with other ads they’ve previously ran in the app. Both moves demonstrate that as a counter to Facebook’s latest functionality copy of Stories, Snapchat is aggressively going after one of its key rivals targeting its ad revenue stream.

Source: Business Insider