Snapchat Funneling its Users to Amazon
Snapchat (SNAP) is building a search platform in which the items you look up will be redirected to Amazon. A feature that they will be calling “Eagle.”
Snapchat is also working on a visual search, where if you hold down the screen you can search songs, items, places, etc. The search digs into Amazon, Shazam, and other Snap partner’s data bases.
This is a much needed move for Snapchat as they had a 385 million loss last quarter as opposed to their top competitors Facebook (FB) and Twitter (TWTR).
Amazon moved up 1.1 percent in today’s trading session
Snapchat down 2.3% in today’s trading session.