Snap Launches Ad Studio

On Tuesday, Snap Inc ($SNAP@US) said that it plans to launch a studio that will create augmented ads for partner brands. While the firm is popular in the photo filter arena, it wants to do more to superimpose images onto the consumer’s view of reality. The new studio will be called Arcadia and assist social media apps and websites with product placement and unique advertising features such as trying on clothing virtually. Currently, the studio has signed Verizon ($VZ@US), P&G Beauty, and the WWE ($WWE@US) as its first clients. Snap stock was down almost 2% in early trading.