Snapchat Inc, the parent company of Snapchat, is planning to announce its gaming platform for developers next month, online news service Cheddar reported on Friday, citing a person familiar with the matter.
Shares of the company rose 3 percent in trading before the bell.
The platform is being developed under the code name “Project Cognac,” and is expected to feature a handful of games from outside developers designed to work specifically in the Snapchat app, according to the report.
The new gaming platform will be revealed at the company’s first-ever summit for content and developer partners in Los Angeles on April 4. The company is also expected to reveal video initiatives like more original shows, the report added.
Technology news website The Information first reported that Snap was working on a gaming platform in June 2018. Snap declined to comment on the Cheddar report.
Snapchat has been struggling to stay relevant since its launch back in 2017. Most of the downfall of Snapcat can be attributed to Facebook’s popular photo-sharing app, Instagram. Facebook has replicated a lot of Snapchat features in its Instagram app, gaining more users worldwide.
A controversial redesign of the Snapchat app last year also alienated some of Snapchat’s users and advertisers.
It was reported that Mark Zuckerberg is looking forward to integrating WhatsApp, Instagram, and Facebook into a single platform, which might end up causing more problems for Snapchat. Facebook CEO Mark Zuckerberg wrote a detailed post on his personal page highlighting that the future of social network lies in investing in private chats, with a focus on end-to-end encryption around the platforms.
Zuckerberg has also acknowledged in his post that many might not be convinced by the company’s argument of developing a “privacy-focused platform,” given the history of the social network. He admits the company does not “currently have a strong reputation for building privacy protective services, and we’ve historically focused on tools for more open sharing.”
ALSO READ:
- WhatsApp for Android Beta spotted with in-app browser: Report
- Sound One Drum portable speaker with IPX5 rating launched in India at ₹3,490
- Apple announced WWDC 2019 schedule, conference to kick off on June 3