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Snap meets augmented realityINTL

Snap meets augmented reality

Social media giant Snap (SNAP) has launched 15 new augmented reality (AR) products for businesses, including some really cool stuff like allowing users to virtually try on retail products (imagine a life where you don’t have to return shoes because you bought the wrong size).

The Wall Street Journal reported that AR tools could be worth $4b for Snap throughout the next few years, which is double its 2019 revenue. Snap Inc. has been investing heavily in innovative technologies as a way to keep up with other social media giants like Instagram – whose very similar “story” feature basically outshone Snapchat’s main product.

If you thought that Snap was in the past, think again! The company’s performance the last few months has been pretty solid with share prices more than doubling over the past four months.

why it matters
Snap has been working hard to expand its appeal beyond conventional social media marketing. We recently reported that Snap bought the location data startup StreetCred, a project led by two geo-mapping industry veterans who are sure to bring lots of other new ideas to the company.