After the whole internet exploded with serious backlash regarding this policy, the company released the following clarifying statement in a blog post.
At the center of concern is something we’ve seen play out again and again on social networks—namely, that Snapchat owns your content and, in a Snapchat-specfic twist, will no longer delete it from their servers, as they previously claimed. If true, it would be a pretty concerning change considering Snapchat’s a prime target for government data requests.
The reason as to why the company felt the need to change its terms was that it wanted to offer terms in a more natural language which has unfortunately backfired. Snapchat also added a section about in-app payments to its terms of service, and clarified what content is visible to people you aren’t connected to on Snapchat. In its blog post, Snapchat emphasized that the company’s policy about automatically deleting snaps and chats from its servers hasn’t changed.