Snap and Perplexity have mutually ended their partnership to integrate Perplexity's AI answer engine into Snapchat, as the collaboration did not align with their product goals. Initially announced in November 2025, the deal involved Perplexity paying Snap $400 million to bring AI-powered answers to Snapchat's 943 million monthly users starting early 2026. Despite the cancellation, Perplexity remains active on the Snap platform and plans to continue using its advertising products. Meanwhile, Snap reported a 12% revenue increase in Q1 2026, with user growth and new AI-powered ad formats launched on Snapchat.
Snap Inc. stock surged 7% as social media stocks rallied, with Pinterest also up 3% and Meta Platforms nearly flat. The rise in Snap shares comes ahead of its earnings call scheduled for November 4, though the company has not provided any specific ne...
Blue Duck Capital, a shareholder in Snap Inc., has issued an open letter urging Snap's board to raise external capital for its Specs technology division without diluting existing shareholders. This move aims to unlock significant shareholder value by...
