Snapchat users will soon be able to buy products from Amazon without leaving the social media platform, the US e-commerce giant announced. Snapchat shares surged 7% on Wall Street to $12.15.
In-app purchases include products promoted by Snapchat and sold on Amazon. An Amazon spokesperson said customers in the US will see real-time pricing and Prime membership benefits, as well as estimated delivery information and details on select products promoted by Snapchat.
A year ago, a partnership was announced between the two American companies with the aim of facilitating purchases from Amazon using virtual reality technology. In April, Snapchat had 750 million monthly users, but despite this, the platform has not been able to generate sufficient annual advertising revenue, unlike Meta (Facebook, Instagram, WhatsApp).
Currently, California-based Snapchat is looking for new sources of revenue.
Details of the deal between Amazon and Snapchat have not been disclosed, including whether Snapchat will receive a percentage of the profits generated from sales on Amazon.