Source: Axios
“Snap will receive $400 million in cash and equity in Peplexity, as part of an agreement whereby Snap will incorporate Perplexity’s AI search engine into Snapchat next year. For Snap, it’s a new business line that it seems eager to replicate. For Perplexity, it’s a giant distribution boost. For everyone, it feels like a step toward sponsored AI and, possibly, agentic commerce. Perplexity most recently was valued by VCs at $20 billion. Snap closed yesterday with a $12.3 billion market cap, although shares jumped 17.5% at today’s open.” (11/06/25)