Chinese Tech Giant Tencent Buys 12 Percent Stake in Snap

Less than one day after Snap Inc. posted disappointing quarterly results and its stock subsequently plunged, the company revealed that Chinese Internet titan Tencent Holdings recently purchased a 12 percent stake in Snap. Chinese tech companies such as Tencent, Alibaba Group and Baidu have been investing in U.S. firms. According to Morningstar analyst Ali Mogharabi, Snap’s main problems include declining user growth and competition from the more established Instagram. Disappointing ad revenue is reportedly also disappointing investors. Continue reading Chinese Tech Giant Tencent Buys 12 Percent Stake in Snap

NBCUniversal, Snap to Open New Studio for Mobile Content

NBCUniversal and Snap plan to open a production studio to create original content for mobile devices. Mark and Jay Duplass, who formed creative agency Donut to produce programming for new platforms, will be the first creators for the studio. NBC News already produces “Stay Tuned,” a twice-daily newscast distributed on Snapchat, which drew 29 million unique viewers in its first month. Former NBC Entertainment executive Lauren Anderson will head the new NBCUniversal-Snap studio, to be based in Santa Monica. Continue reading NBCUniversal, Snap to Open New Studio for Mobile Content

SoftBank’s Masayoshi Son Reveals His Plan for Vision Fund

SoftBank chief executive Masayoshi Son invested $164 million in startup Mapbox, which is used by Lyft drivers, Snap and Mastercard, and in the process revealed his plans for his nearly $100 billion Vision Fund. The Fund, which includes money from Saudi Arabia and others, is aimed at preparing for new paradigms in work, medicine and so on that will occur due to artificial intelligence. Son believes in Singularity, the idea that robots will change the work force and machines will become smarter than people. Continue reading SoftBank’s Masayoshi Son Reveals His Plan for Vision Fund

Snapchat Introduces its New Location-Based Discovery Tool

Snapchat debuted “context cards” this week, a new feature that helps its users easily make a restaurant reservation or book an Uber ride without having to exit the app. The new feature is designed to keep users engaged with the app and its contextual location-based search. By swiping up from geotagged images while viewing certain stories, users will get related data such as contact info, directions and reviews. Early partners include Bookatable, Foursquare, Michelin, OpenTable and TripAdvisor. Ultimately, more time on Snapchat could mean more advertising revenue for the popular messaging app. Continue reading Snapchat Introduces its New Location-Based Discovery Tool

Roku Goes Public Today, Sets its IPO Price at $14 per Share

Video streaming device maker Roku begins trading today on Nasdaq, setting its IPO price at $14 per share, which would give it a $1.3 billion stock market value. The 15-year-old company is competing with the likes of Amazon, Apple and Google that all offer streaming video boxes featuring popular apps such as Netflix and Hulu. Roku’s devices provide access to Amazon, Netflix, YouTube and dozens of online channels, but competition is a major consideration with today’s tech investors. Snap Inc., for example, the year’s biggest tech IPO, has watched its shares plummet in value as Facebook’s Instagram rolled out Snapchat-like functionality. Continue reading Roku Goes Public Today, Sets its IPO Price at $14 per Share

Brands, Marketers Find Success With Snapchat’s Snapcodes

Users have caught on to Snapchat’s Snapcodes, the company’s version of QR codes, scanning over 8 million codes a day. Marketers like how Snapcodes connect traditional and digital advertising and provides data. Even though Snapcodes add production costs and uncertainty about results, Gatorade, Wendy’s and Evian are among an increasing number of brands using Snapcodes which, placed on products and ads, makes it easy for users to use their mobile phones to unlock custom branded filters, lenses, websites and games. Continue reading Brands, Marketers Find Success With Snapchat’s Snapcodes

Instagram Looks to Expand its Global Audience With Stories

As part of its larger strategy to attract international users who may face inconsistent or costly mobile Internet service, Facebook-owned Instagram has been ramping up the web version of its photo- and video-sharing application. The latest upgrade brings Stories, “one of Instagram’s most popular features, copied from Snapchat, which lets people post videos and photos that disappear after 24 hours,” reports Bloomberg. “The number of people accessing Instagram through the web, instead of an app, is growing, the company said. More than 80 percent of its users are outside the U.S.” Continue reading Instagram Looks to Expand its Global Audience With Stories

Snapchat Plans to Offer Scripted Content by End of the Year

Speaking at the Edinburgh International Television Festival yesterday, Snapchat’s head of content Nick Bell said the social platform will likely offer scripted content via Snapchat Shows by the end of the year. However, Bell does not see Snapchat as a broadcast TV killer. “Mobile is the most complementary thing to TV that has been around,” Bell said. “We’re really capturing the audience who are not probably consuming TV at the same rate and pace of engagement that they once were.” He noted that NBC’s “The Voice” and ABC’s “The Bachelor” both experienced a boost in viewer numbers after launching Snapchat offshoots. Continue reading Snapchat Plans to Offer Scripted Content by End of the Year

NBC News’ Daily Show Tops 29 Million Viewers on Snapchat

NBCUniversal reports that its first NBC News daily show for Snapchat already has more than 29 million unique viewers after one month on air. “Stay Tuned,” which broadcasts twice daily, launched July 18. While the figure tops viewership for some of NBC News’ top-rated television offerings, a direct comparison is not necessarily realistic since a Snapchat view starts as soon as a video is opened — and content created for mobile users is distilled into smaller need-to-know bits as compared to traditional TV news. However, the early success marks a major first step for NBC on the social platform. Continue reading NBC News’ Daily Show Tops 29 Million Viewers on Snapchat

Google Aims to Take On Snapchat With New Stamp Product

Google is joining Facebook in seeking to undercut Snapchat by offering similar features. The company is reportedly developing Stamp, a so-called news product that will offer articles in a magazine-like design, similar to Snapchat’s Discover feature. Snap, however, isn’t standing still, with plans to focus Discover more on episodic video content. News of Google’s development of Stamp follows buzz that the company floated an offer last year to purchase Snap for $30 billion, according to sources who call it an “open rumor.” Continue reading Google Aims to Take On Snapchat With New Stamp Product

Facebook Reaches New Milestone of 2 Billion Monthly Users

Social media giant Facebook announced it now has 2 billion monthly active users. The new milestone comes five years after reaching 1 billion users, and 13 years after Mark Zuckerberg first launched the platform. According to TechCrunch, Facebook leads social apps based on number of logged-in users, “above YouTube’s 1.5 billion, WeChat’s 889 million, Twitter’s 328 million and Snapchat’s estimated 255 million.” Facebook’s WhatsApp and Messenger each have 1.2 billion users, while its Instagram photo-sharing app recently exceeded 700 million. Continue reading Facebook Reaches New Milestone of 2 Billion Monthly Users

Digital Influencer Marketing Group to Develop Best Practices

The Influencer Marketing Council recently launched to create consistency and best practices for digital celebrities who work with brands. The Federal Trade Commission requires influencers who incorporate brand products in their videos or promote corporations on such social platforms as Instagram and Twitter to disclose that the posts are in fact advertisements. But celebrity Andrew Fitzpatrick (aka 80Fitz) reports the current lack of consistency over disclosure practices or hashtags that label the content. Continue reading Digital Influencer Marketing Group to Develop Best Practices

Snap Map Location Sharing Aims to Bring Friends Together

With its new Snap Map feature, now available on iOS and Android, Snapchat encourages friends to get together in real life instead of just digitally. Snap Map shares your current location via a map that updates when Snapchat is opened. The tech is based on Snap’s acquisition of social map app Zenly. Users can select specific friends for location sharing or disappear from the map via Ghost Mode. Tapping a friend’s “BitMoji avatar opens their Story to show what they’re up to, or lets you message them directly to make meetup plans,” explains TechCrunch. “Snap Map also gives users an alternative way to discover Story content beyond the well-worn Stories feed.” Continue reading Snap Map Location Sharing Aims to Bring Friends Together

Snap, Time Warner Ink $100 Million Deal For Original Shows

Snap Inc. has inked a $100 million deal with Time Warner’s Turner cable channels and Warner Bros. studios for up to 10 original shows a year for the platform. The big studios and traditional TV companies see Snapchat as a way to reach its younger demographic, which is much less likely to subscribe to their premium channels. For example, HBO now has a path to creating content for Snapchat, and scripted drama and comedy are among the genres considered for distribution via the deal. Snap’s shows typically run three to five minutes. Continue reading Snap, Time Warner Ink $100 Million Deal For Original Shows

Snap May Include AR Tech With Next-Generation Spectacles

While Snap extends availability of its $130 Spectacles into Europe, the company is reportedly developing a second generation of the photo- and video-recording glasses. The “project is closely guarded inside the company,” reports TechCrunch. Based on a recent patent application, “it seems increasingly likely that Spectacles II will ship with augmented reality features built in … Snap’s app is already primed to support such a move. It recently rolled out an augmented reality feature — called World Lenses — in April which allows users to place digital objects around them.” Snap has also been looking into other hardware possibilities, including drones and a 360-degree camera.

Continue reading Snap May Include AR Tech With Next-Generation Spectacles

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