August 06 - 16:08
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Snap eyes $1 billion short-term debt to fund AR development
Snapchat's parent company Snap wants to accelerate its work on augmented reality (AR). It aims to raise $1 billion in short-term debt to fund AR development, along with creating more media content and potentially acquiring other businesses. Market competition from the likes of Facebook is challenging Snapchat in the AR space.
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