"The goal of the program is to utilize the company's strong balance sheet to opportunistically offset a portion of the dilution related to the issuance of restricted stock units to employees as part of the overall compensation program designed to foster an ownership culture."
"Starting in early 2026, Perplexity will appear in our chat interface for Snapchatters around the world."
"Through this integration, Perplexity's AI-powered answer Engine will let Snapchatters ask questions and get clear conversational answers drawn from verifiable sources, all within Snapchat."
Snap reported $1.51 billion in third-quarter revenue, a 10% year-over-year increase that beat expectations. Global daily active users reached 477 million and average revenue per user rose to $3.16, both improvements year over year. The company announced a stock repurchase program of up to $500 million and reported $93.4 million in free cash flow. Snap secured $400 million in cash and equity from Perplexity AI for a partnership that places Perplexity into Snapchat chat starting in early 2026 to provide conversational answers from verifiable sources without selling ads against those responses.
Read at Fast Company
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