The word is starting to spread and that could have Snap Inc. and supporters of
Snapchat worried. Why? Google parent, Alphabet Inc. has begun to work with
various news publishers in order to make a technology that is eerily similar to
Snapchat’s “Discover” feature.
If you are not familiar with this feature, it allows users (Currently of the Snapchat
app) to view media content that is disappearing and intertwined with
advertisements. Basically, Google would create something similar that contains
content from partners like CNN, the Washington Post, Time, and even Vox. Google’s
moniker that will be placed on the “new” feature will be called “Stamp”.
Coincidentally (or not), the name stems from a mix of the company’s Accelerated
Mobile Pages (AMP) and the first two letters of the word “story”. Think Sesame
Street “ST…AMP”; make sense?
Ever since Snap’s IPO, the company has been struggling to gain trust from new
investors. The fact that the stock’s share price has tumbled ever since is not
something that has helped the cause either. “The success of the open source AMP
project is down to the constant collaboration with publishers that involves working
early on upcoming features. We don’t have anything to announce at the moment but
look forward to sharing more soon,” a Google spokesperson said.
But even given this new “hurdle” for Snap, the company continues to move forward.
The company is set to double down on its ad spending in 2017 with a total of $200
million devoted to that, according to reports. Comparatively speaking, the stock is
still at very low levels especially in comparison to the billions that the company has
already spent on numerous ventures as well as going public in the first place. With
“Stamp” supposedly ready to launch, the troubles for Snap may be far from over,
however a new rise in share price could pacify investors in the short term.