Snapchat to introduce new features in app ahead of IPO

Snapchat is introducing 'Our Story' -- a new global live story

Breaking News - As Snapchat sets for an initial public offering (IPO) that may value the messaging platform at as much as $25 billion, the photo and video-sharing app is set to roll out major changes in its app, media reports said.According to a report in Tech Crunch on Friday, Snapchat just made it easier to navigate the app with a universal search bar that is always accessible at the top of the app.

Available for some people on Android, the new changes will roll out to all iOS and Android users soon.

The search bar lets you dig out of Snapchat the best content and conversations.

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"Improved search could be a huge boon to brands, businesses and influencers hoping to build their Snapchat audience," it added.

With the new search bar, if you tap a friend's auto-suggest card or search result, you'll start a chat with them or you can tap their Story thumbnail to instantly start watching it full screen.

Snapchat is also introducing "Our Story" -- a new global live story that any user can contribute to at any time.

The "Quick Chat" suggestions will let you hop to a particular friend's message thread or story a lot faster, the report added.

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Paytm payments bank to miss Diwali date

Mobile wallet company Paytm is likely to miss the Diwali target for commercial launch of its payments bank as it is still awaiting the final clearance from the Reserve Bank of India (RBI).

“We’re awaiting the final application approval from RBI. We have everything ready. As soon as the approval comes, we will do a ‘beta’ launch of the bank, which is within the company. By the end of the year, we will have a commercial launch of the payments bank,” Vijay Shekhar Sharma, founder and chief executive officer of Paytm, told Business Standard in a telephone interview.

Paytm has shifted its deadline for opening its payments bank thrice since April. Sharma, who has got the licence in his name, is expecting the launch by the year-end.

Paytm, which was among the 11 recipients of payments bank licence, plans to start the project with an initial capital of Rs 300 crore. After the initial euphoria, three out of the 11 recipients withdrew their applications. However, Paytm hopes to make it one of the biggest businesses in its portfolio and the second largest revenue earner after wallets.

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