Market Overview

Baidu and Snap Inc. Renew Sales Partnership to Reach Outbound Chinese Advertisers

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Baidu, Inc. (NASDAQ:BIDU) and Snap Inc. (NYSE:SNAP) announced today the renewal of their sales partnership, which first began in May 2017. The agreement authorizes Baidu to act as Snap's representative to advertisers in Greater China, Japan and South Korea. Through this partnership, advertisers in these countries can leverage Snapchat's robust global reach and highly engaged community to grow their business through advertising.

In its most recent update, Snap noted that its service reaches 190 million daily active users on average globally, including 80 million in North America alone. On average, each daily active user opens Snapchat over 20 times each day, and spends an average of over 30 minutes on Snapchat per day. In the U.S., U.K., France, Canada and Australia, Snapchat reaches more 13-24 year-olds than either Facebook or Instagram.

Chinese advertisers have seen significant success on Snapchat. AjMall, a Beijing based e-commerce company focused on Middle Eastern customers, grew its revenue from zero and saw its app gain significant traction in six months by leveraging Snapchat's ad platform. "Snapchat's highly effective ad products and roughly 21 million addressable users in the Middle East allowed us to scale our business extremely quickly," said Joe Zhou, CEO of AjMall.

Shanghai based Lilith Games has seen exceptional results with Snapchat advertising. "With its young, vibrant user base, Snap's advertising platform has been instrumental in driving growth for our game AFK Arena," said Chris Zhang, Vice President of Lilith Games. "Snap's ad targeting helps us acquire extremely relevant, high-quality users."

Baidu's regional presence, local language support, extensive knowledge of Snapchat, creative services, and account management and optimization resources make it easy for Chinese companies to advertise on Snapchat.

"We are extremely excited about our ongoing partnership with Baidu," said Chad Bendall, Head of Global Revenue Partnerships for Snap Inc. "We look forward to continuing to work with Baidu to reach export-oriented advertisers in these key markets."

"Our partnership with Snap Inc. provides Chinese companies new avenues to expand their businesses through Snapchat advertising," said Sheng Hu, Head of U.S. Strategy and Partnership at Baidu's Global Business Unit. "We look forward to connecting with marketing executives in China and beyond on behalf of Snap to discuss the benefits of these advertising solutions."

Advertisers purchasing media through Baidu have access to all of Snapchat's advertising formats, including Snap Ads, Story Ads, augmented reality Lenses, and Filters. Advertisers receive robust real-time measurement, and for maximum transparency, Snap offers advertisers over a dozen third-party measurement partner options, and the new Snap Pixel for e-commerce targeting and measurement.

About Snap Inc.

Snap Inc. is a camera company. Snap believes that reinventing the camera represents their greatest opportunity to improve the way people live and communicate. Snap contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit https://forbusiness.snapchat.com or contact press@snap.com.

  • Snap Ads offer sight, sound, and motion in an interstitial video format that's made for mobile: full-screen, 100% viewable, with sound on by default. They begin with a video, GIF, or still image, and advertisers can allow viewers to swipe up to take an action—install an app, watch a long form video or trailer, or visit a pre-loaded website or game.
  • Story Ads are Snap's first feed-based video ads. Advertisers create a tile within Snapchat's content section, which opens into a collection of three to ten video Snaps, allowing advertisers to tell a rich story targeted at the right audience.
  • Augmented reality Lenses let Snapchatters apply real-time effects and sounds to their selfies — so brands can take part in the camera usage and chatting on Snapchat in the most fun, personal way.
  • Filters are artistic overlays that appear after a Snapchatter takes a Snap and swipes left or right. Filters allow brands to be a part of consumers' content—driving awareness, advocacy, and action.

About Baidu

Baidu, Inc. is the leading Chinese language Internet search provider. Baidu aims to make the complicated world simpler through technology. Baidu's ADSs trade on the NASDAQ Global Select Market under the symbol "BIDU." Currently, ten ADSs represent one Class A ordinary share.

About Baidu Global Business Unit

Baidu Global Business Unit (GBU) is focused on bridging the gap between Eastern and Western markets with its consumer and business-focused internet products and services. Baidu GBU's product portfolio features keyboard apps Simeji and Facemoji Keyboard, content recommendation platform popIn, augmented reality network OmniAR, as well as ad platform MediaGo, which serves Chinese advertisers looking to reach consumers overseas. Baidu GBU offers its products and services worldwide, including in the United States, Greater China, Japan, Singapore and South Korea. For more information, please contact us at: gbu_us@baidu.com

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