In its quarterly financial report, Snap announced the termination of a $400 million agreement with Perplexity. Under the deal announced last November, Perplexity was set to integrate its AI-powered search engine into the Snapchat app. This is reported by Techcrunch.com .
Company representatives stated that both parties decided to end the partnership "amicably" in the first quarter of this year. The initial plan expected Perplexity to pay Snap $400 million in cash and stock over one year, with revenue generation projected to begin in 2026.
The integration was intended to allow Snapchat users to ask questions and receive AI-generated answers within the app. However, after testing, the parties could not reach a final agreement on a large-scale rollout.
Nevertheless, Snap reported that its global daily active users grew by 5% to 483 million. CEO Evan Spiegel stated that the company will continue to invest in AI and smart glasses technology, remaining open to working with other innovative partners in the future.
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