Snap's Taking Another Step Toward Becoming WeChat
One of Snap's (NYSE: SNAP) biggest investors is Chinese tech giant Tencent (OTC: TCEHY). Tencent owns WeChat, the messaging app that counts over 1.2 billion monthly active users. A key part of its success has been expanding beyond messaging to gaming (another core part of Tencent's business), third-party apps, and commerce.
Two years ago, Snap CEO Evan Spiegel spoke about finding inspiration from Tencent. Last year, it announced Snap Games at its annual developers conference. This year, it took the next step with the launch of "minis."
Minis are lightweight web apps that live inside Snapchat and build on the social capabilities of the core messaging app. Minis allow friends to buy movie tickets together, study, or meditate together.
Source Fool.com
