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Snap gains on report it agreed a deal with Amazon on shopping ads

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Snap Inc. (NYSE:SNAP) shares rose 3.5% in early Tuesday trade after The Information reported that the social media company reached a deal with Amazon (NASDAQ:AMZN) to enable its users to shop for products directly from ads within the Snapchat app.

The partnership is set to be launched for U.S. customers, as reported by The Information.

This development follows a similar arrangement between the e-commerce giant and Meta for facilitating shopping on Facebook (NASDAQ:META) and Instagram, as reported last week.

On the other hand, Amazon continues to integrate its shopping capabilities within popular social media platforms, further enhancing its e-commerce presence and tapping into a wider user base.

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