Snapchat reportedly working on ‘special’ ecommerce product with Hearst
Luke Crisell, the former editor in chief at womenswear retailer Aritzia and a recent Hearst hire, is said to be heading product development.
If true, all signs point to Snapchat’s latest secretive product being ecommerce-related, given Crisell’s retail background. WWD cites sources who say Crisell is also interviewing fashion market editors to join his team.
Snapchat has certainly already expressed interest in the multi-billion dollar space. In May, it invested an undisclosed amount in Spring, a shopping app for iOS and Android that recommends menswear and womenswear by way of an Instagram-like photo feed.
Snapchat also planted some roots in the payments space last fall when it partnered with Square for Snapcash, so its 100m users could pay one another through the app.
Snapchat and Hearst’s secret project could expand upon Snapchat Discover, the content media hub it launched in January that is baked into Snapchat’s app. Hearst was one of Snapchat Discover’s launch partners, serving up content from Cosmopolitan.
Introducing an ecommerce aspect would not only boost Snapchat’s engagement, but also pad the company’s coffers, if the company chooses to take a small cut of transactions.
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