Snapchat Debuts New 'world' Lenses

By Caitlin HustonMarketsMarketWatch 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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