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The share price rises to a little over $24 by the end of the day, corresponding to a market cap of $33 billion. [132] The price rises by another 10% on Friday, March 3, but as of March 3, Snap Inc. still has no buy ratings from analysts. [10] [133] 2017 June 21 Product Snapchat launches location sharing with a new feature called Snap Map.
Snapchat is an American multimedia instant messaging app and service developed by Snap Inc., originally Snapchat Inc.One of the principal features of the multimedia Snapchat is that pictures and messages are usually available for only a short time before they become inaccessible to their recipients.
The company was named Snapchat Inc. at its inception, but it was rebranded Snap Inc. on September 24, 2016, in order to include the Spectacles product under the company name. [12] Snap is co-owned by Tencent (which holds a 45.43% stake) and NBCUniversal , a division of Comcast (whose stake is undisclosed).
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Director Mode, meanwhile, will serve as a modular camera mode within Snapchat itself that's intended to help centralize access to creative tools that would be useful when publishing to Spotlight.
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Snapchat files for its IPO, and begins trading on the New York Stock Exchange. The share closed at $24.48, giving the company a valuation of around $33 billion. [100] 2017 Launch TikTok, a short video-sharing and social media service, launches. [101] 2017 Launch Co–Star, an astrological social networking service, launches. [102] 2017 Milestone
In May 2017, a Snapchat patent became public which included an illustration of a hypothetical future version of Spectacles with augmented reality capabilities. [13] In late 2017, Snapchat wrote off $40m worth of unsold Spectacles inventory and unused parts. As of May 2018, the company sold 220,000 pairs, which was less than initially expected. [14]