Snap Inc News

Jenner has huge followings on various social media platforms, including Twitter and Instagram.

Chief Executive Evan Spiegel said the company was launching the redesign after hearing for years that Snapchat was difficult to understand or hard to use.

`Placed,` which helps advertisers track real-world purchases and store visits, was acquired by Snap to enhance `advertising effectiveness`, the report added.

Spiegel also values running Snap in Southern California and outside of Silicon Valley, where Alphabet - Google`s parent company is headquartered.

As the shares of Snap Inc -- the parent company of Snapchat app -- dropped nearly four percent on Wednesday, analysts said the company`s daily active user growth might slow down in the second quarter this year.

Snapchat`s parent company Snap Inc has acquired Placed -- a Seattle-based start-up that operates a consumer location analytics platform -- for nearly $200 million.

Some of the biggest US mutual and hedge funds, including Daniel Loeb`s Third Point and Daniel Och`s Och-Ziff Capital Management, owned stakes in Snap Inc, parent of the wildly popular Snapchat messaging app.

It wasn`t the day Snap Inc -- the parent company of Snapchat -- had planned. In its first quarterly earning report after going public in March, the company saw growth slipping to its lowest in the past two years, reporting 166 million users at a growth rate of a mere 5 percent.

Snap Inc -- the parent company of popular photo-sharing messaging service Snapchat -- is considering an initial public offering (IPO) that can value the company at $25 billion or more.