Recently, Snap revealed in its quarterly earnings report that the cooperation with its AI search engine Perplexity has been "amicably ended" in the first quarter. The partnership was initially announced last November, with Perplexity planning to pay Snap $400 million in cash and equity over a year to integrate its AI search engine directly into Snapchat.

perplexity

Snap stated that the decision to end the collaboration was made due to the inability to reach an agreement on widespread promotion. Although the integration of Perplexity had already been tested with some users, Snap mentioned in February this year that no agreement had been reached for broader implementation.

Snap CEO Evan Spiegel mentioned in the initial announcement that this collaboration reflected the company's vision of using AI technology to enhance content discovery within Snapchat, and it looked forward to collaborating with more innovative partners in the future.

In addition, Snap also released user growth data for Snapchat in its earnings report: daily active users (DAU) increased by 5% year-over-year, reaching 483 million; monthly active users (MAU) also grew by 5%, reaching 965 million. The company attributed this growth to new features in the app, including Snap Map and AR filters.

Spiegel stated in the press release: "In the first quarter, our daily active users returned to growth, revenue growth accelerated, profit margins expanded, and we achieved strong free cash flow. We will continue to focus on disciplined execution while investing in long-term opportunities such as smart glasses, and look forward to sharing more information at the AWE conference on June 16."

Notably, Snap had previously announced a 16% workforce reduction in April, affecting approximately 1,000 full-time employees, due to advancements in AI technology.

Key Points:

🌟 The $400 million collaboration between Snap and Perplexity has been "amicably ended," as no agreement was reached on expansion.  

📈 Global daily active users of Snapchat increased by 5% year-over-year, and monthly active users also grew by 5%.  

💼 Snap reduced its workforce by about 16% in April, affecting approximately 1,000 employees, due to advances in AI technology.