Snap ends $400 million Perplexity partnership, says no revenue expected
Snapchat's parent company, Snap, has called off its $400 million partnership with AI search platform Perplexity.
The deal was supposed to bring smarter chat features to Snapchat, but both sides agreed to end things on good terms earlier this year.
Snap also clarified that it isn't counting on any revenue from Perplexity moving forward.
Snap grows users, cuts 16% staff
Despite the split, Snap is still seeing growth: daily users are up 5% to 483 million thanks to updates like new AR filters and Snap Map.
CEO Evan Spiegel says they're focusing on cool tech like smart eyewear and more AR features, with big reveals coming at AWE in June.
Meanwhile, the company recently laid off 16% of its staff as it shifts resources toward AI innovation and keeps looking for new ways to improve the Snapchat experience.