Snap Unveils AR Studio

Snap Inc SNAP launched a new global creative studio for Arcadia branded augmented reality.
Arcadia, powered by the team of world-class experts that pioneered mobile AR advertising at Snap, will develop new technology and deliver the most innovative, impactful, and effective AR experiences to brand and agency partners.
The studio will partner with brands, agencies, and creators to elevate AR possibilities.
At launch, Arcadia has secured partnerships with global marketers, including P&G Beauty, Verizon Communications Inc VZ, WWE, and Shake Shack Inc SHAK.
With the launch of Arcadia, Snap is investing in an AR ecosystem backed by partners, creators, and tools.
The creative studio will function as a division of Snap.
Price Action: SNAP shares closed higher by 0.83% at $76.43 on Tuesday.