By Justin JanssenThe social media giants are building out an app that will allow them to offer ads to the public for the first time, according to a report from Bloomberg Businessweek.
Facebook, Twitter, and Snapchat have all begun rolling out this new ad-based platform, and Google, Facebook, and Instagram are also building apps that allow advertisers to create ads on the platform, the report said.
But Facebook and Twitter aren’t the only companies building ads-focused apps on the platforms.
Instagram is also testing ads-centric apps for its platform, which is set to launch later this year, the article said.
Instagram launched in April and has raised $35 million to date, according the report.
The social media giant has said that its ads will only run for a limited time, and will be available on other sites such as Snapchat and Pinterest.
But Instagram is still working out a way to get its ad-supported products on platforms other than Facebook and Google.
“We are exploring options that will enable us to offer these ad-centric experiences on Instagram and other platforms,” Instagram said in a statement to TechCrunch.
Read moreAt a time when Facebook and Snapchat are struggling to attract enough users to boost their platforms, the apps are looking to monetize by giving users a direct route to monetization.
And these new apps will give advertisers an opportunity to engage with their customers in ways that aren’t just through advertisements.
“We are building an app to allow advertisers and marketers to target users to their audiences based on their interests, behaviors, likes and dislikes,” Facebook said in the Bloomberg BusinessWeek report.
Snapchat has also said it wants to use the platforms to provide “instant feedback on posts and content.”
“We’ll continue to work on this platform as part of our ongoing efforts to make Snapchat a better place for people to share content, and to create experiences for people on all platforms,” Snapchat said in its own statement.