Snapchat CEO says ads are on their way

Photo sharing app Snapchat is close to rolling out ads, according to CEO and Co-Founder Evan Spiegel. The Wall Street Journal reports the first ads will be messages that appear within the Snapchat Stories feature, between photos and videos shared by users but not specifically targeted to individual users. Advertising will be the first source of revenue for the three-year-old company, which has been valued at $10 billion. Yahoo and Kleiner Perkins Caufield & Byers have invested in the company. SnapChat plans to debut Snapchat Discovery later this year; it will feature disappearing content from partnered media and marketing companies.

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