Snapchat (SNAP) Joins Forces With LGBT News Site

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Snapchat — which is owned by Snap (NYSE:SNAP) — has inked a partnership with LGBT news site PinkNews with the intent of sharing the site’s content on the social media app.

PinkNewsThe LGBT site will begin publishing two weekly editions on Wednesday and Friday afternoons and it will eventually offer daily editions of the site in October. The site currently has four staffers who are dedicated to creating content and the company plans on doubling this figure in the coming weeks.

Soon after it launches, PinkNews will begin plugging its content into Snapchat’s programmatic network with the goal of monetizing the site. Once it starts publishing five editions per week, the site will begin selling ads to the social media app and share the revenue with the platform with the goal of making it easier for advertisers to share LGBT content with the community.

“We will be monetizing it; that’s powerful,” said Benjamin Cohen, CEO and founder of PinkNews. “I anticipate the team itself will be profitable immediately. We’ve been working on this since January, so we’ve had seven months of developmental costs. But on a monthly operation basis, we’ll be profitable from day one.”

Each edition of PinkNews will offer multiple stories, as well as four snaps where users can swipe up to see more content.

SNAP stock fell 2.5% on Tuesday following the news.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/pinknews-snapchat-snap/.

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