Snap is rising after saying it will let brands create their own dancing hot dogs (SNAP)
The famous dancing hotdog will soon have a lot of highly-monetized friends.
Snap announced, on Thursday, that advertisers will have the ability to create their own versions of the dancing hotdog and make their creations available to either national or to targeted audiences, and the stock is rising.
Snap is up 2.05%, and is trading at $14.41.
The company is attempting to jumpstart its advertising business by offering unique products to advertisers. Its dancing hotdog filter was immensely popular and Snap estimates that the filter was viewed 2 billion times.
The new sponsored filters will be able to be moved around, resized and animated. Brands Warner Bros and Bud Light have been testing the new ad product already.
Recently, Snap has been struggling against its social media rivals Facebook and Instagram. Instagram has been copying Snap's new features on a regular basis making it difficult for the company to differentiate itself in the crowded ad market.
Snap shares are trading 15.29% below their initial public offering price of $17.
Click here to watch Snap trade in real time...
SEE ALSO: Snapchat will now let brands create animated objects like the popular dancing hot dog
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Contributer : Tech Insider http://ift.tt/2wZpUIE
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