Shares in Snap Inc (NYSE:SNAP), the Snapchat app owner, edged higher in a falling market on Friday as it announced a search function on its flagship product.
The function will give easier access to the content archives of Snapchat's “Stories” feature, and that will make it easier for the company to sell that information to advertisers.
“Since we launched Stories in October 2013, Stories have evolved from singular, personal perspectives to include collective narratives created by our entire community with Snaps submitted to Our Story and curated by our team,” the company said in a post on its web site.
Snap claimed the decision to introduce a search facility was because the company's curators had become overwhelmed by the volume of Snaps being created by the Snapchat community.
“We’re rolling out Stories in Search starting today in select cities and we hope you enjoy it as much as we do!” the company said.
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Shares in Snap, which floated on 2 March at US$17, rose 1.4% to US$22.53.