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 (TWX - Free Report) ; Mic; the Washington Post; and Time .
“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 (FB - Free Report) 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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