FILE PHOTO: The front of the New York Stock Exchange (NYSE) with a Snap Inc. logo hung on the front of it stands shortly before the company’s IPO in New York, U.S., March 2, 2017. REUTERS/Lucas Jackson
March 15, 2019
(Reuters) – Parent of Snapchat messaging app Snap Inc plans to announce its gaming platform for developers next month, online news service Cheddar reported on Friday, citing a person familiar with the matter.
Shares of the company rose nearly 3 percent in trading before the bell.
The platform, codenamed “Project Cognac,” will feature a handful of games from outside developers designed to work specifically in the Snapchat app, according to the report.
The new gaming initiative will be unveiled at Snap’s first-ever summit for content and developer partners in Los Angeles on April 4 and video initiatives like more original shows will also be announced, the report added.
Technology news website The Information first reported that Snap was working on a gaming platform in June 2018.
Snap declined to comment on the Cheddar report.
Snap Inc’s Snapchat, known for its disappearing messages and funny filters, has struggled since going public in March 2017, as Facebook’s popular photo-sharing app, Instagram, has replicated many of its novel features.
A controversial redesign of the app last year also alienated some of Snapchat’s users and advertisers.
(Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D’Silva)
