Snap Inc. To Showcase Augmented Reality Technology At Leap 23

Snap Inc. announces its first-ever participation in LEAP 23, the world's largest international technology conference, which will be held in Riyadh, Saudi Arabia, from February 6 to 9. The event is organized by the Ministry of Communications and Information Technology in partnership with the Saudi Federation for Cybersecurity, Programming and Drones, and Tahaluf.

Snap Inc. will participate in the conference under the theme "Taking the next big LEAP in AR disruption." Augmented Reality (AR) combines the power of computing with what we see and experience right in front of us in the real world. By using AR, Snap provides impactful solutions for advertisers and brands to reach their target audience.

"We believe that Augmented Reality is the next big technological advancement that's going to impact almost every industry, including retail, significantly," said Abdulla Alhammadi, Regional Business Lead for KSA Market at Snap Inc.

"Companies and brands that adopt a winning augmented reality strategy now will have a competitive advantage in the future. And we're building loads of this innovation from the region, given the digitally-active audience, while those who are late to adopt or consider AR as part of their strategy will face a daunting challenge to catch up; this is evidenced through the 250 million people using augmented reality through Snapchat every day," Alhammadi added.

Hussein Freijeh, General Manager in MENA, Snap Inc, noted that "augmented reality helps improve our lives, widens our perspective, and allows us to see the world in a unique way. Snap Inc. has been working for years on developing AR further as it has become an effective tool and a representation of the future in a short time."

Freijeh noted that Snap had demonstrated its commitment to fostering technological advancements, intending to launch a Creator Studio for AR in Riyadh. The studio allows Snap to serve its highly engaged local community, help empower and educate the next generation of creators, and inspire them about the possibilities of using Snap's technology across the arts, education, media, and cultural sectors.

Snapchat found that interacting with products through AR leads to a 94% higher conversion rate. 66% of buyers are less likely to return an item they bought via AR, and 80% feel more confident in their purchases after using the technology.

Visitors to the Snap Inc. booth at Leap 23 can experience AR demos in various sectors, including retail and other innovative and interactive technologies.

It is expected that by 2025, more than 75% of smartphone users will be using AR – which will significantly impact online shopping. The Gen Z and Millennial population in Saudi Arabia and users of social and communication apps are anticipated to be frequent AR users.

Snap's mission is to enhance relationships with friends, family, and the world. Ranked the #1 happiest platform compared to other apps, Snapchat enhances real relationships with friends, family, community, and the things you love without judgment or pressure by providing joyful video content with a global reach of more than 360 million Daily Active Users.

Notably, the percentage of young users of Snapchat in Saudi Arabia between the ages of 13 and 34 exceeds 90%, with Saudi Arabia being one of the most engaged markets with a monthly reach of 20 million Snapchatters.