Snapchat promises to focus on proving ad effectiveness

Snapchat believes it still has a job to do convincing brands of its value, as it looks to hone in on the effectiveness of its ads. The brand revealed its latest set of results yesterday (10 August), which showed that losses at its parent company Snap Inc nearly quadrupled in the second quarter. Snap lost $443m despite revenues rising 153% to $182m. That was below analyst expectations. Growth also slowed, with Snapchat adding 7.3 million new users in the quarter, below the 8 million expected. It now has 173 million daily active users.