Has Snap Found a Way to Make More Money from Snapchat?
Snap’s Context Cards
Snap’s (SNAP) Snapchat users will soon be sharing their locations on the app when they take pictures or videos. The new feature, Context Cards, will give more information about the user’s location, letting friends know where the user is eating a meal, the sort of food being served, its reviews, and more. The feature was rolled out on Tuesday, October 10, in certain countries.
To do this, Snap has struck a deal with TripAdvisor and several other companies. Snap will also link up with other apps, including ride-hailing companies Uber and Lyft and OpenTable to reserve a table.
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Snapchat eyes more money
This could be a positive move for the company. While the new feature will only share information, it could open new avenues for profits, and Snapchat could soon be used as a real-world discovery platform. This could help the company compete with Yelp (YELP) in terms of discovery.
Notably, Snap stock had risen 2.2% in early hours of trading on October 11.