Snapchat to invest $3.5 mn targeting AR developers

Photo-messaging app Snapchat announced an investment of $3.5 million to expand its support for Augmented Reality (AR) creators and developers on its platform.
Snapchat for CIOs
This investment will continue its commitment to funding opportunities for Lens Creators to work on sponsored projects, connect personal passions with Lens creation, and participate in its AR Creator Residency Program.

Snapchat also announced an upgrade to Lens Studio, one of the most popular AR tools on the market.

This new 3.3 release is focused on improving creator workflows by providing tools and resources that professional creators need, as well as features that save time and improve the quality of Lenses.

Recently, Snapchat said its daily active user base reached 249 million from 238 million in the last quarter. Snapchat registered 52 percent increase in revenue at $679 million in its third quarter.