NEW DELHI: Photo-sharing platform Snapchat on Wednesday launched its Rs 49-a-month paid subscription service in India in a bid to boost sales amid slowing growth and global layoffs.
The subscribers in India will receive a Snapchat+ badge for their profile with a star mark.
Snapchat+ arrives in India at a time when WhatsApp is also primed to introduce seven new features with its upcoming update.
Snapchat announced Snapchat+ in June, a collection of exclusive, experimental, and pre-release features available on the platform for $3.99 per month.
It was then available in the US, Canada, UK, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates.
“We’ve always enjoyed creating new features for our community, and in the past we’ve tested new features in different ways and rolled them out to different Snapchatters and regions,” the company said in a statement.
“This subscription will allow us to bring new Snapchat features and provide prioritized support to some of the most passionate members with prioritized unity,” it added.
The company claims that over 332 million people worldwide use Snapchat every day. In India, it has over 100 million monthly active users.
Not just Snapchat, but several other popular apps have launched paid subscription services after Apple introduced a privacy feature with iOS 14.5 that allows users to opt out of ad tracking for apps.
The founder and CEO of instant messaging platform Telegram, Pavel Durov, recently confirmed that a subscription-based offering called “Telegram Premium” will be released later this month.
Meanwhile, it was reported that Snap was set to lay off employees and was in the early stages of planning layoffs.
The Verge reported earlier this week that Snap’s job cuts come after the company released disastrous quarterly (Q2) results despite poor future prospects.
“It is currently unclear how many of Snap’s more than 6,000 employees will be laid off, as managers across the company are still planning the full extent of the cuts for their teams,” the report said.
Snap, Snapchat’s parent company, suffered a nearly $10 billion loss and its shares hit a fresh 52-week low on disappointing quarterly earnings last month.
The company reported a net loss of $422 million, compared to $152 million a year earlier, as it “significantly” reduced new hires.
Snap previously announced that it would throttle hiring this year.