The main semi-targeted advertising Snapchat is experimenting with right now is based on location: http://www.theverge.com/2014/7/15/5901359/snapchats-new-geofil

The main semi-targeted advertising Snapchat is experimenting with right now is based on location: http://www.theverge.com/2014/7/15/5901359/snapchats-new-geofilters-change-based-on-where-you-are http://www.theverge.com/2014/7/15/5901359/snapchats-new-geof..., and location information is pretty huge when it comes to advertising. That article states that such filters are currently unpaid, but I think that could change easily. EDIT: Additionally, their rumored "news network" (http://www.theverge.com/2014/8/20/6049007/snapchat-discovery-news-network-probably-coming-soon http://www.theverge.com/2014/8/20/6049007/snapchat-discovery... b/c the original article is paywalled) is said to have advertising as well. No mention on how/if it's going to be targeted, but I wouldn't be surprised if they come up with something interesting.