11/23/2020, 3:21 PM (Source: TeleTrader)
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Chart for: Snap Inc

Snapchat launches video showcase Spotlight

Snap Inc. announced on Monday that it is adding a video feature to its social media app Snapchat in an apparent effort to compete with ByteDance's popular video-sharing app TikTok. The Spotlight tab will allow users to "shine a light" on the most entertaining videos posted in the app, the company said.

Snap also invited users to submit videos "for the opportunity to earn a share of more than $1 million that we’re distributing to creators every day." The content posted in Spotlight will be moderated and public comments will not be allowed. The feature is currently available in the United States, Canada, Australia, New Zealand, the United Kingdom, Ireland, Norway, Sweden, Denmark, Germany, and France.

Breaking the News / DJ