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Location: 66/401, Pantheon Road, Egmore, Chennai - 8, Chennai
Founded in: 2016
Stage: Post-launch
Number of employees: 1-5
Short URL: vator.co/snippt
Awards and mentions
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Top 10 Apps of the month alongside apps like Prisma et al.
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Snippt

Information for the mobile generation!
Startup/business
Chennai
http://mysnippt.com
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Company description

 

Snippt is an app only social news product. 

We publish news in the form of 4-second video stories plus concise summary formats. The news is represented in the form of a storyboard, where a stream of 4-second videos gives you a glimpse of the latest news from around the world. The story feed format with video at the core moves away from the traditional newsfeed format - where the text is the at the core. We focus on content and formats that are relevant to younger millennials in the 16-24 age group.

Snippt's social features - the express & share and "Your Storyboard" are built around the needs of out TG - who want to be active consumers of and engage in the news. Current news formats only encourage static consumption of news. The express & share feature lets users express what they feel about the news in their own unique way, while the "your storyboard" helps them catch up on the news about their interests in the last 24 hours.

 


https://www.youtube.com/watch?v=-Nqhw4Tbns8

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Team
Business model

 

The core business model would be built around native advertising, where ads would be in the form of Snippts and publisher partnerships. In terms of native advertising, we would be looking at:

1) sponsored snippts - ads in the same formats as Snippts so that it does not affect the core user experience

2) sponsored channels - channels for brands that would be a stream of Snippts explaining the offerings of the brand

3) Sponsored commerce Channels - a product listing channel that would show product listings in the form of snippts, again a much of engaging and interactive way of looking at products

4) Sponsored Stickers - As we expand the express & share feature, we would be looking at adding stickers and emojis that would be relevant to a news platform. Branded stickers would be an extension of the core value of the brand

5) Publisher clicks - Within 2 years we would be looking at publisher partnerships so that we can operate as a marketplace and scale up content. The publishers would be charged on a per click basis that we redirect to their website

 

Competitive advantage

Our competitors can be divided into 4 buckets - existing media players, short form curators and millennial content platforms.

 

The issue with the existing media players like the ToI, Hindu, DC etc. is the lack of content specifically suited to the mobile platform. The same content across other platforms like desktop and print is republished in mobile in the same format. No core video focus, and content is not specifically suited to the millenial auidence

 

Short form curators include competitors like inshorts, viralshots which are mobile specific content formats but with no video integration or video focus or no focus on providing an enriching share experience

 

Millenial Publishers like scoopwhoop and buzzfeed have the issue of huge content consumption off site on platforms like Facebook, twitter etc. but minimal consumption on mobile website, app or their desktop sites