Instagram Launches 'Threads' Camera-First App; Snap Shares Down -- Update
October 03 2019 - 2:18PM
Dow Jones News
By Josh Beckerman
Facebook Inc. (FB) is launching "Threads from Instagram," a
camera-first messaging app for quick sharing of photos and
videos.
In a blog post, Instagram said the service provides a way to
"stay more connected throughout the day." A status feature offers
options like "studying," "at the gym" and "low battery."
The Threads option can be used for people on the "Close Friends"
list introduced last year.
Threads opens directly to the camera and "allows you to add
shortcuts, so you can share what you're doing in just two
taps."
Shares of Snapchat parent Snap Inc. (SNAP) were trading lower in
Thursday's market as Instagram unveiled Threads. Snap recently was
down 6% to $13.91. Volume was higher than normal, with more than 42
million shares trading, above the 65-day average volume of some
29.1 million.
Facebook's Snapchat-like items have included Instagram Stories
and stickers.
The Wall Street Journal reported last month that Snap tracked
Facebook's competitive tactics in a dossier called "Project
Voldemort."
--Stephen Nakrosis contributed to this article.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 03, 2019 14:03 ET (18:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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