Snapchat
The stock is doing really well and is up more than 150% since its March lows. It remains 35% below its IPO highs of $29. However, Snap has continued to innovate. At its conference, it provided updates for its augmented-reality camera features, added a "happening now" tab, and new software programs that run within the app called "Snap Minis".
Snap Minis
Snap Minis might be the biggest reveal especially in terms of long-term impact. It allows developers to build programs that can run within the chat app. Early demonstrations included a program that allows users to meditate together, buy movie tickets, and managing finances. In China and many Asian countries, chat apps like WeChat have become their own platforms that serve many functions. People buy stuff, send money, play games, and do all sorts of stuff without leaving the app.
At the least, it will give people more things to do within the app, and they will spend more time on Snap which increases opportunities for revenue.
Augmented Reality
Snap also provided updates that will make it easier for developers to create tools to build on its camera and augmented reality features. It's already been a leader in this. For example, Nike
Already, 70% of Snapchat users use some AR features on a daily basis which gives it an advantage over many of its rivals. The latest update adds Music lens and geotargeted lens that lets third-party developers create different and more targeted experiences.
Happening Now
Snapchat also added a "happening now" tab that is a real-time feed of breaking news and posts from friends. The update is designed to make the app easier to use especially for novices. The company has partnered with news organizations like CNN, ESPN, Washington Post, BBC, to provide content which is organized by category. It also gives users less reason to leave the app to check services like Twitter
