Snap has been struggling
Snap’s (SNAP) Snapchat has been struggling to grow its user base. In fact, the social media platform lost 3 million DAUs (daily active users) in the second quarter. The platform now has 188 million DAUs.
That caused the stock to plummet to its all-time low. It’s currently trading at ~$9. It has fallen 40% year-to-date. The company’s controversial redesign in February caused a lot of user backlash, including some high-profile criticism.
Snap is partnering with Amazon for visual searches
Snap has been trying to improve the monetization of its app. On Monday, September 24, it announced that it’s testing a feature that will add a visual product search on its platform. It will allow users to identify products by scanning the product or its barcode through Snapchat’s camera.
The visual search is powered by e-commerce giant Amazon (AMZN). Scanning the product brings up a card that displays the item and similar products. The card will also show the product’s title, price, and availability on Amazon Prime.
If users are interested, they can tap on the card, which will open the Amazon app. The company didn’t disclose the financial terms of the partnership.
Facebook’s (FB) Instagram has launched Shopping tags in its popular Stories section. The photo-sharing app is also launching a dedicated Shopping channel in its Explore tab.