Things are finally looking up for Snapchat. The company announced its fourth quarter and full year 2018 financial results and the last quarter of the year brought some good news for the company. While Snapchat continued to bleed money, it curtailed its losses to $158 million compared to $192 million a year ago. More importantly, the company managed to stop users from leaving its platform.
Snapchat has always leaned into augmented reality to help the social media platform stand out, starting off with making folks look like dogs.
Snapchat has had a rough 2018 as it has seen its user base erode throughout the year despite its best efforts to retain and attract new users. Ending the year on a poor note, the company’s market cap has reached an all-time low of $6.5 billion from its peak of $31 billion.
Challenges are pretty common on social networks, so it’s honestly a bit surprising that it has taken Snapchat this long to jump on the bandwagon.
Snap is expanding to the desktop in a major way, thanks to a brand new app the company is launching for desktop computers.
Snap’s CEO Evan Spiegel in a 15-page memo sent to employees has set some new goals for the company and admitted to the redesign of the app creating more issues than it solved.
Snap is unveiling two new designs for its Spectacles 2 sunglasses: Veronica and Nico. Both sunglasses sport a traditional design and come with polarized lenses.
Facebook has not been shy about copying features from other popular social platforms, none more than Snapchat, which has seen plenty of its features seen the light of day in the Facebook-owned Instagram.
Snap, Inc. continues to experiment with its augmented reality (AR) lenses, all in an effort to make them more worthwhile for folks who use the social network.