Snap to raise $1 billion to invest in AR, possible acquisitions

Snap Inc on Tuesday said it will raise $1 billion in short-term debt and plans t...

FILE PHOTO: A woman stands in front of the logo of Snap Inc. on the floor of the New York Stock Exchange while waiting for Snap Inc. to post their IPO, in New York City, NY, U.S. March 2, 2017. REUTERS/Lucas Jackson/File Photo

The parent company of the popular disappearing messaging app Snapchat has revived its user growth and stock price after a rough 2018. It introduced mobile gaming within Snapchat and developed its AR features such as lenses that overlay bunny ears on a user’s photo, but faces competition from larger platforms like Facebook Inc and newer social media apps like TikTok.

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