Snapchat Debuts New 'world' Lenses

By Caitlin Huston Markets MarketWatch Pulse

Snap Inc. announced new lenses, or augmented reality overlays, Tuesday that Snapchat users can use to "paint the world" or create a 3D experience on a photo. Previously, users could put lenses, such as dog face, over their own face in a selfie or with one other person. The move comes on the same day as Facebook Inc.'s developer conference. Facebook's Instagram has been taking aim at Snap, with the expanded roll-out of its Instagram Stories, which the company said had surpassed Snap in terms of daily active users. Shares of Snap were down 1.2% in premarket trade Tuesday. Snap shares have fallen 11.5% month-to-date, compared to the S&P 500's loss of 1%.

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