Snapchat launches TikTok-like feature 'Spotlight'

(Reuters) - Snap Inc on Monday rolled out a feature, "Spotlight", that would allow users to share short-form videos publicly in its Snapchat app, adding a service that would compete with ByteDance-owned TikTok and Instagram Reels.

Users, who could previously share snaps or stories with friends, can now share them directly to Spotlight and garner more followers, Snap said in a blog post https://press.snap.com/introducing-spotlight.

The company said it would give about $1 million every day throughout the remainder of 2020 to users whose snaps make it to the top of the platform, in a bid to boost engagement with the feature.

Facebook Inc earlier this year launched Instagram Reels - the company's version of TikTok wherein users can record short mobile-friendly videos, then add special effects and soundtracks pulled from a music library. (https://reut.rs/396vmA7)

(Reporting by Chavi Mehta in Bengaluru; Editing by Aditya Soni)