Snap Shares Jumps 8% On Launch Of AR Enterprise Services

Shares of Snap Inc. (SNAP) are gaining over 8% on Thursday morning after the company announced the launch of an enterprise division.

SNAP is currently trading at $12.00, up $0.95 or 8.60%, on the NYSE. The stock opened its trading at $11.56 after closing Wednesday's trading at $11.05. The stock has traded between $7.33 and $39.80 in the past 52-week period.

Snap unveiled AR Enterprise Services (ARES), a new enterprise solution to enable businesses to integrate Snap's Augmented Reality (AR) into their owned and operated channels.

ARES' inaugural offering is for retail, and among the first group of customers are Goodr, Princess Polly, and Gobi Cashmere. Each of these companies have been using various products from Fit Finder to AR Try-On, which are features that make up our new Shopping Suite.

"Over the last decade, we've been hard at work bringing fun and personal AR experiences to Snapchatters. In the next decade, we're excited to take our world-class AR technology to businesses' websites, apps, and even into their physical locations," said Jill Popelka, Head of AR Enterprise Services of Snap Inc. "We look forward to making the shopping experience more delightful for consumers and transforming businesses around the world with AR Enterprise Services."

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