Snapchat

Backed by Twitter, Google, Snap and Tiger Global, ShareChat has about 2,300 employees, and the layoff will impact about 500 people at the company, according to reports. "We are taking a very difficult decision today to part ways with around 20 per cent of our talented FTEs (full-time employees) to ensure the financial health

Snapchat+ subscribers can now make the look and feel of the application more personalised by customising the camera capture button, application icons and more, reports TechCrunch.Users can change the camera capture button to a particular colour or shape, like a heart or a soccer ball.

Progressive Web Application (PWA) is a type of web app that can operate both as a web page and mobile app on any device.The app is based on Snapchat's web version, which was released just a few months ago, and is powered by Microsoft's Chromium-based Microsoft Edge, according to the report.

"With the combined innovation and technology between Snap and Amazon, we are unlocking exciting and fun new try-on experiences for hundreds of millions of Snapchatters," Ben Schwerin, SVP of Partnerships at Snap, was quoted as saying. The AR Shopping Lenses on Snapchat have been used over 5 billion times by 250 million users over the past year.

Since its launch in India, time spent on Spotlight by the Indian Snapchatter community has increased by 175 per cent (YOY). Discover, Snap's content platform featuring selected partners, had over 140 million Indian Snapchatters watching a show in 2022, while local channels publishing premium content on Discover increased by 150 per cent (YOY), said the company.

Creators will now be paid millions of dollars annually, report TechCrunch. The payout has been reduced for the second time by the company. The company paid out millions to creators each week in 2021 as opposed to $1 million every day in 2020.

The company said it is introducing new features to help keep conversations with friends easy to find. "Our new Lock Screen Widgets, available now with iOS 16, keeps conversations with your bestie saved right to your lock screen so you can start chats with one tap," the company said in a blogpost.

The company said that as part of users' subscription, they can now access even more exclusive features. "It is been just over six weeks since we launched Snapchat+ and we are thrilled to share there are over 1 million paying subscribers." The new 'Priority Story Replies' will allow Snapchat+ replies to be more visible to Snap Stars. They can also pick an emoji they want their friends to see after they view Snaps.

Children will also be able to see how their parents see them via the Snapchat 'Family Center' feature, which has been rolled out in the US, the UK, Canada, Australia and New Zealand, with other countries to follow soon. Parents and guardians will be able to see kids' friends list, which accounts they've been communicating with within the past week, and directly report suspicious accounts to Snapchat. Both the guardian and the child must accept the Family Center invite before the oversight tools can take effect.

The company's stock lost nearly 40 per cent of their value on Friday, after it reported a net loss of $422 million compared to $152 million in the prior year as the company "substantially" reduced hiring. "We face a number of very large and very sophisticated competitors (and) we're seeing the overall advertising pie grow at a slower rate amid the macro headwinds," CFO Derek Anderson told investors.