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Alphabet, Inc's (GOOGL - Free Report) Google is beginning to work with news publishers to create technology that’s similar to Snapchat’s (SNAP - Free Report) Discover feature.
Snapchat’s Discover feature allows users to view disappearing media content interspersed with advertisements. Google would create a similar feature, containing content from Vox Media; CNN, which is owned by Time Warner ; Mic; the Washington Post; and Time (TIME - Free Report) .
“Stamp” is a play-on-words of Google’s fast-loading Accelerated Mobile Pages (AMP) and the “st” in stories. The news stories would appear when one uses Google’s search engine.
“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.
Snap has been struggling since its IPO earlier this year, reaching another all-time low yesterday. Google’s “Stamp” could cause even more problems for the young company.
Despite the announcement of Google’s “Stamp,” Snap shares rose 4.56% today, closing at $13.52. Investors received the positive news that WPP CEO Martin Sorrell will double the company’s spending on Snapchat ads this year, to a total of $200 million.
However, Sorrell cautioned investors that his spending on Snap is “at very low levels” when compared to the billions of dollars he spends on advertising for Facebook and Google. “Stamp” would be another advertising opportunity from Google that companies could take advantage of.
“Stamp” could be launched as soon as next week.
For more on SNAP’s troubles, check out our recent podcast which tackles the topic of Snap being banned from major indexes like the S&P 500:
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Google to Make Snapchat Rival "Stamp"
Alphabet, Inc's (GOOGL - Free Report) Google is beginning to work with news publishers to create technology that’s similar to Snapchat’s (SNAP - Free Report) Discover feature.
Snapchat’s Discover feature allows users to view disappearing media content interspersed with advertisements. Google would create a similar feature, containing content from Vox Media; CNN, which is owned by Time Warner ; Mic; the Washington Post; and Time (TIME - Free Report) .
“Stamp” is a play-on-words of Google’s fast-loading Accelerated Mobile Pages (AMP) and the “st” in stories. The news stories would appear when one uses Google’s search engine.
“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.
Snap has been struggling since its IPO earlier this year, reaching another all-time low yesterday. Google’s “Stamp” could cause even more problems for the young company.
Despite the announcement of Google’s “Stamp,” Snap shares rose 4.56% today, closing at $13.52. Investors received the positive news that WPP CEO Martin Sorrell will double the company’s spending on Snapchat ads this year, to a total of $200 million.
However, Sorrell cautioned investors that his spending on Snap is “at very low levels” when compared to the billions of dollars he spends on advertising for Facebook and Google. “Stamp” would be another advertising opportunity from Google that companies could take advantage of.
“Stamp” could be launched as soon as next week.
For more on SNAP’s troubles, check out our recent podcast which tackles the topic of Snap being banned from major indexes like the S&P 500:
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>