Over the year 2023, Snapchat underwent significant changes and introduced a myriad of features. From content control features to the introduction of AI-powered chatbots and augmented reality (AR) features, the platform evolved with the rapidly changing digital landscape. 

Its finances were not left untouched, as reflected in the quarterly earnings reports that revealed both growth and challenges. Adapting to the needs of its diverse user base, Snapchat engaged in strategic partnerships, expanded its advertising capabilities, and ventured into experimental phases, such as the incorporation of sponsored links in its AI chatbot. 

Snap Inc. marked a significant milestone with its first-ever APAC AR Day in Mumbai, India. The event featured a candid fireside chat between Evan Spiegel, CEO and Co-Founder, Snap and Ajit Mohan, APAC President, Snap. The conversation centered around key themes such as the global adoption of AR by consumers and brands, the rich creative talent pool in India, the future trajectory of AR technology, and Snap’s approach to driving transformative changes in the AR landscape.

This year-in-review encapsulates the key milestones, product launches, and financial highlights that defined Snapchat’s dynamic journey throughout the twelve months of 2023.

January

February

• Snap Inc. released its Quarter Four (Q4) earnings report for the year 2022, showcasing an increase in daily active users, Snapchat+ gaining two million paid subscribers, and a revenue of $4.6 billion with 12% growth.

March

• Snap Inc. introduced AR Enterprise Services to allow businesses to integrate Snap’s AR technology into their own collaterals, engage with consumers, and aim to drive better business results.

April

• Snapchat launched My AI, an AI-powered chatbot available to all Snapchat users for free, with the ability to be added to group chats and recommend AR filters. It could be added to group chats by mentioning it with an @ symbol, and Snap would let people change the look and name of their bot with a custom Bitmoji avatar. In addition, My AI could recommend AR filters to use in Snapchat’s camera or places to visit from the app’s map tab. 

May

• Snapchat returned to the IAB NewFronts and introduced new solutions for advertisers, new content partnerships, and new ways to work with creators on Snapchat.

• Advertisers could reserve the first video ad between Friend Stories that Snapchatters see, and in the US, it offered a potential daily reach of nearly 50 million. Early partners running First Story ads included Louis Vuitton, Warner Brothers, and more.

• Ads in Spotlight were made available for all advertisers globally. With over 350 million users consuming Spotlight content every month, to help bring brands closer to the Snapchat audience on this new surface.

• Brands and creators could work together with the US launch of Snap Star Collab Studio, a turn-key end-to-end service for brands to source, partner, and drive results with Snap Stars.

June

July

• Snap Inc. reported its second-quarter earnings report for the year 2023 and saw revenue of $1,068 million, a 4% year-over-year decline, and 397 million daily active users.

August

September

October

November

December