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Snap launches paid version of Snapchat app

CNA – Snap on Wednesday launched a paid version of the Snapchat app in the United States (US), priced at USD3.99 a month, and a few other markets, in a major step away from a revenue model dependent mostly on advertising.

Snap, which had teased the subscription version, Snapchat+, earlier this month, said it would be available in Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates at launch.

Last month, Snap said it would miss revenue and profit targets for the second quarter and would have to slow hiring and lower spending, sending its shares down over 40 per cent in a single day.

Initial features in the paid version include the ability to change the app’s icon, see who re-watched a story and pin other users on chat history as a “BFF”, Snap’s Senior Vice President of Product Jacob Andreou, told tech news site The Verge.

The logo of mobile app Snapchat displayed on a tablet. PHOTO: AFP