Verizon and Snap to Work Together on 5G-Enhanced Social Media

(Bloomberg) -- Verizon Communications Inc. and Snap Inc. said they will collaborate on next-generation 5G wireless technology to develop features like augmented reality on mobile phones.

The Snapchat creator will work at Verizon’s 5G labs to make new user experiences like visual enhancements to live events, the companies said Thursday. The partnership also includes sponsorship of a video series called Snap Originals.

Verizon has launched 5G service in parts of 15 cities in hopes of generating a new source of revenue from the early adoption of what is considered a transformative technology. For consumers and investors, the promise of 5G remains to be seen.

No terms of the partnership were disclosed.

To contact the reporter on this story: Scott Moritz in New York at smoritz6@bloomberg.net

To contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, John J. Edwards III

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