Instagram Launches 'Threads' Camera-First App; Snap Shares Down -- Update

By Josh Beckerman

Facebook Inc. (FB) is launching "Threads from Instagram," a camera-first messaging app for quick sharing of photos and videos.

In a blog post, Instagram said the service provides a way to "stay more connected throughout the day." A status feature offers options like "studying," "at the gym" and "low battery."

The Threads option can be used for people on the "Close Friends" list introduced last year.

Threads opens directly to the camera and "allows you to add shortcuts, so you can share what you're doing in just two taps."

Shares of Snapchat parent Snap Inc. (SNAP) were trading lower in Thursday's market as Instagram unveiled Threads. Snap recently was down 6% to $13.91. Volume was higher than normal, with more than 42 million shares trading, above the 65-day average volume of some 29.1 million.

Facebook's Snapchat-like items have included Instagram Stories and stickers.

The Wall Street Journal reported last month that Snap tracked Facebook's competitive tactics in a dossier called "Project Voldemort."

--Stephen Nakrosis contributed to this article.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

October 03, 2019 14:03 ET (18:03 GMT)

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