This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Snapchat Patent Filings Show Focus on Monetization

NEW YORK (TheStreet) -Snapchat has shown its hand on how plans on monetizing the service, according to two payments-related patents filed with the United States Patent and Trademark Office. 

The two applications focus on processing and transferring electronic payments. The first patent, filed in July, states it is for, "Computer application software for processing electronic payments to and from others that may be downloaded from a global computer network." The second patent is for the use of "Electronic transfer of money for others; providing electronic processing of electronic funds transfer, ACH, credit card, debit card, electronic check and electronic, mobile and online payments."

The Venice, Calif.-based company's application with the Department of Commerce still has to be approved. Snapchat refused to comment on the filings when reached for comment by TheStreet. 

Snapchat: A Race For Retinas, Not Revenue (Update 1)

How Slingshot Leak Shows Facebook Wants to Own Private Messaging

After reportedly declining offers from two tech giants, Snapchat's plans to make money have been highly anticipated. Google (GOOG) reportedly offered to buy Evan Spiegel's start-up for $4 billion in 2013 and Facebook (FB) tried to buy the private messaging application for $3 billion.

Meanwhile, Snapchat, which is estimated to have 82 million users according to Business Insider Intelligence, has been slowly integrating brands and incentives for users to share locations into the 'selfie'-sharing mobile application. The company introduced 'Geofilters' on Tuesday, location sensitive filters available to users in California and New York that allow them the ability to add a neighborhood specific sticker to Snapchats.

The image sharing application also has attracted larger companies, with Viacom's (VIA.B) MTV using Snapchat to announce nominees for the Video Music Awards (VMAs) on Thursday. 

In addition, Snapchat launched the collaborative and location focused 'Our Story' feature with its live stream of the Electric Daisy Carnival in June. Snapchat created an 'Our EDC Story' for the event allowing users who activated location services to contribute to the feed and users who could not attend the festival to watch on a live feed through the "EDCLive" story. 

--Written by Kathryn Mykleseth in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs