Snap shares ended higher in the US Monday, after a TechCrunch report uncovered details in some new SnapChat code suggesting Snap and Amazon have a new agreement in place. The code detail allows a visual search of snapchat images by utilising Amazon’s database, along with other partners.
Snap shares ended the Monday US session 0.89% higher at $13.65. The stock has hit some bumps along the road in 2018-to date, as investors remain uncertain that the tech firm can deliver on its financials.
New Snap feature
According to TechCrunch, the latest SnapChat update for its Android App, includes lines of code that mean when a user presses and holds on an image, they can be sent directly to an Amazon listing.
Pop-up text in the coding reads: “Press and hold to identify an object, song, barcode, and more! This works by sending data to Amazon, Shazam, and other partners.”
The feature is described as ‘unreleased’ but suggests that Snap may have found another valuable revenue stream through online referrals to Amazon and other potential partners. And that’s something that should please investors of the tech/camera firm.
The TechCrunch article, however, details that Amazon didn’t respond to its enquiries about the code, while Snap gave a ‘no comment’ response.
However, if this new feature is put into use, it could be a positive development for the business, its investors and users. Not to mention Amazon.
SnapChat partners with Fanbytes
It appears Snap isn’t only interested in partnering with the larger, more well-known tech giants. Separate reports say the US tech firm is working with UK-based Fanbytes. The Fanbytes website says that advertisers can utilise its client base and “advertise through snapchat influencers at scale.”
This is likely a way for SnapChat to keep driving engagement with its teen user-base, who follow and are interested in social media stars.