Snapchat creates $3.5 million fund to push its AR capabilities even further
Dec 10, 2020, 12:07 IST
Photo-messaging app Snapchat on Thursday announced an investment of $3.5 million to expand its support for Augmented Reality (AR) creators and developers on its platform.
According to the company, this new investment will continue its commitment to funding opportunities for Lens Creators to work on sponsored projects, connect personal passions with Lens creation, and participate in its AR Creator Residency Programme.
Snapchat also announced a powerful upgrade to Lens Studio, one of the most popular AR tools on the market.
This new 3.3 release is focused on improving creator workflows by providing tools and resources that professional creators need, as well as features that save time and improve the quality of Lenses.
Recently, Snapchat saw its daily active user base jump to touch 249 million, from 238 million in the last quarter, as the company registered a 52 per cent increase in revenue at $679 million in its third quarter.
The stock of its parent company Snap rose 17.1 per cent after bumper quarter results. Operating cash flow improved by $21 million to $55 million in Q3 compared to the prior year.
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According to the company, this new investment will continue its commitment to funding opportunities for Lens Creators to work on sponsored projects, connect personal passions with Lens creation, and participate in its AR Creator Residency Programme.
Snapchat also announced a powerful upgrade to Lens Studio, one of the most popular AR tools on the market.
This new 3.3 release is focused on improving creator workflows by providing tools and resources that professional creators need, as well as features that save time and improve the quality of Lenses.
Recently, Snapchat saw its daily active user base jump to touch 249 million, from 238 million in the last quarter, as the company registered a 52 per cent increase in revenue at $679 million in its third quarter.
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SEE ALSO:
India’s desi-GPS is now in the same league as the US, Russia and China — can scan 1,500 kilometres beyond its own borders
Canada has enough COVID-19 vaccine doses to cover each citizen five times over while the fate of 67 poor countries remains undecided
Farmers call for nationwide protest on December 14 — plan to block Delhi-Jaipur and Delhi-Agra highways starting December 12