Snapchat Update Now Lets Users Share Videos Outside App

Snapchat Update Now Lets Users Share Videos Outside App

Shares of Snapchat parent Snap fell more than 5% Thursday, bottoming out at $13.72, after a Bloomberg report said Twitter was working on a "Snapchat-style" video product to speed up multimedia sharing on its app.

As social media giants fight to keep their dominant market positions, Twitter is trying to keep up with the times by creating a new video sharing tool that shares similarities with Snapchat.

The company is now making it easier for users to share and watch Snapchat videos outside the multimedia app.

Twitter hasn't commented on the report and it's unclear right now if and when these changes will go live.

That sharing feature is part of the user interface redesign Snapchat is now rolling out. The new feature will be focused on the camera and might be "taking cues" from Snapchat.

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The tool, which doesn't have a final design or timing for its release, according to Bloomberg's Selina Wang, is meant to attract more users by allowing them to quickly and easily share what's going on directly around them à la Snapchat. Twitter recently doubled the number of characters allowed in a tweet in hopes of allowing users to be more expressive, along with a new threaded tweet feature for those unfamiliar with how to link their tweets together. Users will then have to attach the video/photo to their tweet and tap the tweet button to send it out.

Twitter might take a page from Snapchat and introduce a brand new video sharing tool.

Twitter CEO Jack Dorsey was once quoted in saying that Snapchat is "very modern" and admittedly described Twitter as being "confusing".

Twitter last month rolled out a new threading feature that encourages "tweetstorms" from users by letting them easily add tweets to a thread without having to reply to themselves.

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