Snapchat CEO feels India is 'too poor for expansion'

Amidst the growing popularity of social media platform 'Snapchat' in India, the company's CEO Evan Spiegel allegedly claimed that he is not interested in expanding the platform's user base in 'poor countries like India and Spain'.

According to a report published in Variety, the CEO while discussing expansion plans in a meeting allegedly dismissed an employee's concern of the slow growth rate of the app in India, stating that the app was only meant for 'rich people'.

According to one of the employees, Spiegel had during a meeting said, "This app is only for rich people. I don't want to expand into poor countries like India and Spain."

Earlier established as a platform for teens for merely sharing pictures and videos, this app has come a long way since its inception six years ago.

An estimated active user base of 150 million, it is one of the fastest growing social media platforms. An average snap chatter spends around 25-30 minutes on this app every day. Its inception created a buzz among the users of bracket 18 to 34 years which is no longer the case, as the app has transcended the age barrier over time.