There was a report earlier by Cheddar, a live streaming news network, that Snap (Snapchat) is going to introduce a new feature allows users to share their story beyond the app. The feature would work by allowing users to embed their stories on their own websites if they wish.
This comes as Snap is struggling against tough competition from Facebook (and Instagram) who are dominating the social media market. This new feature would help Snapchat expand outside of its own app by allowing third-party sites and integrations to interact with the app.
The company which only recently went on the Stock Exchange has been stagnated with lack of user growth, poor retention rates, and declining revenue. The shares have recently taken a dive due to disappointing figures. At the same time, Facebook has been able to replicate key features from Snapchat into Instagram, which is chipping away at Snap’s market.
Snap has tried to come up with new features and ideas including its Spectacles which were a flop, it improved the design that included a better Discover feed but has not proven to be very successful.
Rahul Chopra, the former CEO of Storyful, the former Executive at News Corp is reportedly leading third “Stories Everywhere” project of Snap. His sole focus is on increasing the user growth. His intention is to modify Snapchat into a one-stop destination for news, sports, and other premium video and editorial content. Twitter had made a similar move in 2011, allowing the users to take their tweets off-platform.