The company recently partnered with Amazon to allow users to identify an object or barcode directly in the Snapchat app and purchase the item on Amazon. In fact, one developer found code already embedded in Snapchat’s current app which points to this “Visual Search” feature, meaning, its release may not be too far away.
Meanwhile, Snapchat is working to expand its platform outward to more users across the globe. Recently, it announced it will be beta testing in 8 new languages across Asia, with the majority of languages focused on the Indian market. This is a direct attack at Facebook, who already has more users in India than the United States.
Looking at the numbers
As of the beginning of March, the price of SNAP has been hovering around $10 per share. At this price, the total market capitalization of SNAP comes to about $13 billion.
Compared to the valuation of other social media platforms like Facebook ($490 billion) and Twitter ($24 billion), the value of SNAP in the current market is quite low. As SNAP continues to develop and grow its user base it has the opportunity to take market share away from these competitors.
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