Snap, the operator of Snapchat, announced on July 18 that paid plan subscribers will now be able to use the company’s platform’s instant messaging and video calling capabilities from their browsers without using an app. As a result, Snap’s stock price rose in the market on the 18th.
Since last month, Snap has been offering $ 3.99 a month for Snapchat Plus to users in the US, UK, Australia, Canada and New Zealand, and the web version of the service will be available in these regions starting today. .. It is said that it will be available in other areas in the future.
Snap’s share price rose 3% to $ 14.06 in trading on the morning of the 18th, outpacing the overall market growth rate. However, the company’s share price has fallen 69.8% year-to-date, far from its September highs of $ 83.34.
Snap’s share price announced on May 24 that the company’s quarterly sales and profits are expected to be lower than expected as the macroeconomic environment deteriorates faster than initially expected. In response, it had fallen by more than 40%. Forbes estimates that Snap’s founder and CEO Evan Spiegel’s wealth has fallen by nearly $ 8 billion from last year to $ 3.4 billion.
The web version of Snapchat is the latest feature announced by Snap in the last few weeks. Launched on June 29, Snapchat Plus will allow users to take advantage of their unique customization features for friends lists and badges, but it doesn’t support hiding ads.
The Financial Times reported last week that Snap is in the early stages of incorporating NFTs into the platform.
Snap will announce quarterly results after the market closes on the 14th.