Snapchat ends $400-mn deal with Perplexity as it sees no revenue contribution from it

Snapchat-parent Snap announced that its $400-million deal with Perplexity has "amicably ended". "Our revenue guidance range assumes no contribution from Perplexity," Snap said. The deal, which was announced last November, would have integrated Perplexity's AI search engine directly into Snapchat. Under the agreement, Perplexity was set to pay Snap $400 million in cash and equity over one year.