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SAN FRANCISCO, Oct. 9 (UPI) -- Snapchat CEO Evan Spiegel said Wednesday that ads will soon be coming to the disappearing message app to hold their $10 billion valuation. The announcement comes after Yahoo expressed interest in investing in the company using money it made on Alibaba, which recently had the biggest IPO on Wall Street.
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"We're cutting through a lot of the new technology stuff around ads to sort of the core of it, which I think has always been telling a story that leaves people with a new feeling," Spiegel said during an interview at the Vanity Fair New Establishment Summit. "They're not fancy. You just look at it if you want to look at it, and you don't if you don't."
Snapchat Discovery will deliver content and ads to all Snapchat users that will both open and disappear like regular snaps. It is unknown whether they will also appear in story form.
The Story format creates scenes from major sports and world events and puts them into a long-form snap.
"More people are watching college football on Snapchat than they are on television," Spiegel said.
Spiegel said one of his "pet peeves" was apps that try to push counterculture and revolutions -- something Spiegel wants "My Story" to avoid.
It will be the first form of revenue for the 3-year-old app.
