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Snap is testing a new Snapchat+ subscription service

Snap is testing a new Snapchat+ subscription service



Snapchat CEO surprises Otis College's newest graduates by paying off their student loansReplayMore Videos ... (16 Videos)Snapchat CEO surprises Otis College's newest graduates by paying off their student loansThis mobile robot can reserve parking spots and then charge your EVInternet Explorer is no more. CNN reported on the 'browser wars' it started in 1996Robots could soon look human, with living skin and hairApple's CEO responds to evolving workplace dynamicsSee the new features coming to iPhonesMeet the researchers revolutionizing micro-scale robots for medical useThis new technology helps drones survive strong windsHow Paris Hilton became 'The Queen of the Metaverse'Google's Street View is 15 years old. See the new camera it's rolling outWhy privacy experts are warning against using period-tracking appsBig Tech and Ireland: How the combination made Ireland one of Europe's wealthiest countries This mask makes breathing in virtual reality more realisticSee how Google's new AR technology worksIn 1997, an IBM computer beat a chess world champion for the first timeIn 2005, an iPod was sold every two seconds. See how CNN covered the phenomenonNew York (CNN Business)Social media company Snap may be jumping on the paid subscription service bandwagon with a new offering called Snapchat+.

Rumors swirled on Twitter Thursday about a subscription service for the disappearing-photo app that would cost users around $5 a month and allow them to do things like pin a "best friend" at the top of their messaging page. Snap (SNAP) spokesperson Liz Markman confirmed to CNN Business that the company has started early internal testing of the service, but declined to comment on the rumored features, pricing or a timeline for a potential public launch. Snap sends shares tumbling with warning on economy and earnings"We're excited about the potential to share exclusive, experimental, and pre-release features with our subscribers, and learn more about how we can best serve our community," Markman said in a statement.The news comes as Snap attempts to kickstart its business following a bruising few months for the company, as well as the broader tech sector. Since September, Snap's stock has plunged more than 85% from an all-time high above $83 to just over $12 as of midday Friday. During the first three months of this year, Snap posted a net loss of about $360 million. Last month, Snap warned investors that its revenue and profits for the current quarter would be lower than it had initially expected, and CEO Evan Spiegel warned in an internal memo that the company would slow hiring, according to reports from Bloomberg and the New York Times.


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