Photo-sharing app Snapchat reached 500 million monthly active users, parent Snap announced. Also, Poshmark is partnering with Snap to launch Poshmark Mini, which will be available to Snapchat users in the U.S. in three different ways: Shop Virtual Posh Parties, Shop Poshmark’s Entire Catalogue, and Shop Top-Selling Brands.
Chief Executive Evan Spiegel said that around 40% of the Snapchat user base is now located outside North America and Europe. "[Nearly] one of every two smartphone users in the U.S. is on Snapchat," Spiegel said.
Snapchat launched series of augmented reality tools, including Scan, which allows Snapchatters to match what is seen through the camera to relevant AR experiences on Snapchat.
The company also announced that it would launch a new app called Story Studio, which has video-editing tools.