Snapchat announced the cancellation of its project with Perplexity, which was seen as a significant collaboration in the field of artificial intelligence. The $400 million deal between the parties did not bring the expected success.
Details of the AI Project
Founded in recent years, Perplexity gained attention with its innovative AI-based search engine applications. The collaboration with Snapchat aimed to provide users with an interactive search experience within the app. Users were expected to ask questions directly using Snapchat's chat interface and receive instant answers.
Additionally, under the financial agreement, Perplexity was projected to pay Snap a total of $400 million in cash and stock within the first year. However, over time, some discrepancies arose between the parties, particularly regarding the product's reach to a wider audience. As a result, the project was completely terminated.
Future Plans
Following this decision, Snap removed the expected revenue from the project from its financial planning. However, the company states that it continues to invest in artificial intelligence and is focusing on long-term growth areas such as augmented reality and smart glasses.