How Does Timehop Make Money
Timehop is an application that serves as a ‘today in history’ memo by surfing through a person’s social media networking pictures. The app compiles a collection of the historical pictures such those on Facebook, Instagram, and even on any other media platform where sharing of pictures is involved. This application works by connecting to an individual’s social media account and even other media accounts where older pictures of that particular individual are stored, for instance, iPhone, and Dropbox and cause these images to resurface reminding you of the past (Maya, 2015).
The application has been very useful and has made millions from this and as a result, the company plans to expand the services it provides to its users. According to the Co-founder Wegener, “Our digital footprints are just exploding, and we’re creating more overall content than ever, Wegener said. Your digital history as Timehop sees it is currently on social networks, but there are also things like your photos on your phone and your computer, your text messages, your wearable fitness trackers, and even your credit card swipes. There’s all this digital exhaust you produce while going about your day… we could be the place where all that stuff goes.”
Each and every day, Timehop would display a single picture of the when, where, and the time you involved in some activities. This is usually a year after the event took place, giving you fond memories. It can even be a long time ago, through what is referred to as the ‘digital archive’. The CEO, Wegner and the co-founder of Timehop believe that currently, the application is not making money but, the future looks bright for the application as it will make money by allowing advertisers to advertise their brands via the application documenting the time in history the brand was done. For instance, an advert such as Coca-Cola was invented is a better way where such sponsored contents will pay for the services rendered.
The above image is a picture which was dredged by Timehop for advertisement purposes of the Coca-Cola Company.
Facebook have utilized the app by creating the ‘On This Day’ pages which remind users the dates to check the nostalgia feeds. Timehop CEO, Wegener would say
My general feeling is that this is awesome validation that we’re doing something worth doing. One of our investors put it really nicely that if Facebook isn’t playing in your space, you’re probably not doing something worth doing (Josh, 2015).Wegener continues:
Our mission is broader than just ‘replay your Facebook content. It’s to collect your digital history from everywhere. He concluded I’m not particularly scared of this feature. I think it’s a really nice nod to what we’re doing (Josh, 2015).
Currently, the application is widely installed in US iPhones and because everyone is currently focused on real-time events, is an opportunity for such like an application to make money by reminding them of their past. Thus, Timehop makes money by linking our past with our present, in what is termed by its developers PastPost (Maya, 2015).
Jackie A
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