Snap Gaming Service Coming Soon: What We Know So Far

Company shares are down close to 3% today

Snap (NYSE:SNAP) announced that the company is working towards the launch of a new gaming service that may be coming to phone in your pocket sometime next month.

Snap Gaming Service
Source: Shutterstock

The Snapchat parent company is reportedly planning on rolling out the platform next month at the earliest, also known as “Project Cognac.” You can expect Snapchat to soon have a number of games from outside developers available to users of the app, per a Cheddar piece.

There have been talks of Snap bringing a gaming platform to the popular social media app since last year as Fortune revealed last summer that users can look forward to some games and a multimedia messaging app. The report had marked autumn 2018 as the release date for the platform and updated app.

The Los Angeles, Calif.-based business will reportedly share more details regarding Project Cognac next month for the company’s summit. This will mark the first such summit, which will take place on April 4 and it will include content developers and partners.

The move is likely to help Snapchat add more users as the business’ user base only grew by 5% during the third quarter of fiscal 2018. Australian game studio Prettygreat may also play a role in the development of the games in the upcoming platform as Snap acquired the brand two months ago.

SNAP stock is down about 2.9% on Friday following the news.

Article printed from InvestorPlace Media,

©2020 InvestorPlace Media, LLC