Snap on Tuesday announced the launch of App Stories, which brings the company's popular Stories feature to apps created by third-party software developers.
App Stories will allow users to export their Snapchat photos and videos to other apps, expanding the number of people who can see content from the popular social app.
Although Snap will not be monetizing App Stories at launch, this product gives the company more real estate that can potentially be used to show advertisements.on Tuesday announced the launch of App Stories, which brings the company's popular Stories feature to apps created by third-party software developers.
App Stories will allow users to export their Snapchat photos and videos to other apps, theoretically expanding the number of people who can see content from the social app. The new feature could help introduce Snap to more people, helping them company maintain the user growth that is critical to maintaining shareholder confidence and growing the company's advertising revenue stream.
The company closed 2019 by reaching 218 million daily active users, up 17% compared to the year prior. Revenue for 2019 was $1.7 billion, up almost 45% from nearly $1.2 billion in 2018. That growth coincided with Snap's stock price increasing more than 169% in 2019. Stories, which Snap first introduced in 2013, makes it possible for users to post full-screen photos and videos that disappear after 24 hours.
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