Snapchat has entered into a partnership with Tyroo, the ad tech platform. As part of the deal, Tyroo will operate as a monetisation partner of Snapchat.
Tyroo will focus on boosting the messaging app’s ad monetisation infrastructure in India where Snapchat still has a low presence compared to competitors. However, this year may be an excellent time for Snapchat to enter the Indian market given the growing number of smartphone users in the country.
Roughly a quarter of the population or 337 million people in India are using a smartphone in 2018 according to eMarketer, representing an increase of 16% compared to previous years.
Snap Inc will be launching its three main products to the Indian market, including the augmented reality lenses, filters and Snapchat Stories.
“This strategic partnership with Tyroo will allow us to bring Snapchat to more advertisers in India, and help them see the value in connecting with our highly-engaged users through the most fun and effective ad products on the market,” explained Geoffrey Reed, Head of International Expansion at Snapchat.
As part of the deal, the companies have agreed on a revenue-sharing model. However, it is not clear what the exact terms are.
Snap Inc is increasingly under pressure to expand to other markets given slowing user growth in the US. At the start of the year, Snapchat also faced repeated criticism over its app redesign which confused users and marketers alike.