Smule’s AutoRap goes live with Lenses, powered by the Snap Camera, bringing Snap’s AR innovations to Smule’s music-first community
Smule Inc., the global leader in interactive music creation, today announced its integration with Snap to bring imaging and augmented reality (AR) capabilities directly into the Smule app ecosystem, starting with hip-hop music app AutoRap. Smule has integrated Lenses, powered by Snap Camera Kit, showcasing the potential of AR to create even more engaging musical performances through dynamic visual elements.
Smule and Snap are bringing together the best of social music and digital imaging to offer both user bases even more immersive experiences. AutoRap, Smule’s recently revamped app for hip-hop enthusiasts, rappers and beat makers, is a fitting launch pad for the new Lenses, considering the significant role that creativity and individualism play in the genre.
Internet companies appear to be undervalued, according to a Guggenheim analyst, who on Monday upgraded Snap (SNAP) – Get Report to buy from neutral and Spotify Technology (SPOT) – Get Report to neutral from sell.
Snap, parent company of Snapchat, was climbing 3.9% to $25.62 at last check, while audio streaming services company Spotify was advancing 1.1% to $238.53.
Guggenheim analyst Michael Morris raised his price target for the stock of both companies, increasing Snap to $28 from $22, while boosting Spotify to $250 from $232.
Morris said in a note to investors that he had revised his valuation framework for digital media companies to better reflect what he believes to be greater similarities between internet and software companies, according to The Fly.
This includes core investment in R&D and engineering resources and the creation of high-utility technology platforms.