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Sign up free →Snap announced Wednesday that it and Perplexity ended their deal 'amicably' in Q1. The partnership, announced in November, would have paid Perplexity $400 million in cash and equity over one year to integrate its AI search engine into Snapchat's Chat interface.
The companies had been testing the Perplexity integration with select users but said in February they 'had yet to mutually agree on a path to a broader roll out.' Snap removed the deal's expected revenue contribution from its sales guidance.
Snap reported Wednesday that Snapchat's global daily active users rose 5% year-over-year to 483 million, while monthly active users grew 5% to 965 million. The company attributed growth to new features including Snap Map and Lenses AR filters.
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