Snap tests simplified app, introduces new ad formats to boost revenue amid slow growth.

Snap, the parent company of Snapchat, is testing a simplified version of its app to enhance user accessibility and performance. CEO Evan Spiegel also announced new ad formats, including "Sponsored Snaps" in chat inboxes and "Promoted Places" on the Snap Map, aimed at boosting ad revenue. These initiatives come as Snap seeks to recover from slow growth and declining stock prices while focusing on small and medium-sized businesses for more stable revenue.

September 04, 2024
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