I don't buy that sponsored content or hardware are that exciting in terms of monetization potential. Geofilters are interesting new ad product, but as an ad product they are not really that exciting as you lose virality(ephemeral) and sharing. They are limited to your immediate social network.

>it's actually been in international markets primarily

I'd like to know where you read this. I'd still be concerned because they've pretty much saturated the millenial market at this point. They need to grow in other demographics or internationally.