What you need to know
- Snap CEO Evan Spiegel sat down for an interview on CNBC today.
- Spiegel said the company is happy to pay Apple's 30% commission through the App Store.
Snapchat is happy to pay the "Apple tax," according to Snap CEO Even Spiegel.
In an interview with CNBC, the CEO of the social media company says that they did not have an issue paying Apple's 30% commission on in-app purchases, saying that the company would not exist without the iPhone.
"We really feel like Snapchat wouldn't exist without the iPhone and without the amazing platform that Apple has created," Spiegel said on TechCheck. "In that sense, I'm not sure we have a choice about paying the 30% fee, and of course, we're happy to do it in exchange for all of the amazing technology that they provide to us in terms of the software but also in terms of their hardware advancements."
Spiegel also says that the company is aligned with Apple when it comes to the new privacy protections that the company released in iOS 14.5.
"We're really aligned with them on the changes they're making to help protect privacy," Spiegel said. "And so far, the early investments we made starting almost 10 years ago to protect user privacy on our platform are really paying off."
As for how those privacy changes are impacting Snap's advertising business, Spiegel said the company has been working to help its advertising clients migrate onto Apple's SKAdNetwork, which is used by the iPhone maker to help advertisers measure the efficacy of their ads.
"So far, that transition has gone smoothly for our business," Spiegel said.
Snap may be on board with Apple's commission through the App Store, but Apple CEO Tim Cook just took the stand to testify in the Epic v. Apple trial, one that was brought on by the gaming company because of Apple's commissions and control over the App Store.
We may earn a commission for purchases using our links. Learn more.