Snap launches paid version of Snapchat app priced at $3.99

Snap has launched a paid version of the Snapchat app in the U.S., priced at $3.99 a month, and a few other markets, as part of its strategy to add more revenue models and cut dependence on advertising business.
Snapchat for CIOsSnap, which had teased the subscription version, Snapchat+, earlier this month, said it would be available in Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates at launch.

Last month, Snap said it would miss revenue and profit targets for the second quarter and would have to slow hiring and lower spending.

Initial features in the paid version include the ability to change the app’s icon, see who re-watched a story and pin other users on chat history as a BFF, Snap’s senior vice president of product, Jacob Andreou, said.

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