By: Abrar Khan
Snapchat recently introduced several new features at the "Snap Partner Summit" event, held at the Barker Hangar in Santa Monica, California. One of these features is the company's own chatbot, called "My AI," which is included in the paid subscription product called Snapchat+.
Using OpenAI's GPT technology, My AI can recommend gift ideas, suggest recipes, plan trips, and write programs, among other things. The event also unveiled other features, such as an AR-enabled shopping suite, immersive live music experiences, live location sharing, and a monetization program for creators' stories.
In addition to these new features, Snapchat has also announced partnerships with brands like Coca-Cola to integrate Snap AR features into their promotions. These efforts are part of the company's goal to attract new users globally.
Since its launch in late June 2022, Snapchat+ has reportedly amassed three million paid users. Despite posting a net loss of $1,430 million in 2022, the company ended the year with 375 million daily active users and 12% YoY annual revenue growth.
Snapchat aims to reach over 1 billion users in the next 2-3 years, and the latest Snap Partner Summit was a celebration of the community of 375 million daily active users.