Snapchat is a photo messaging application developed by Stanford University students. Using the app, users can take photos, record videos, add text and drawings, and sent them to a controlled list of recipients. These sent photographs and videos are known as “Snaps”.

Snapchat announced Snapchat Stories Wednesday, a new feature that allows users to compile photos and videos taken through the app into a montage of sorts that will live on for 24 hours. Now when users take photos and videos, they can elect to include them in their Snapchat Story, which is viewable an unlimited number of times by any of their friends. (You can also make stories available to the public.)

The new update could mean a handful of positive changes for Snapchat as well as a menetization conversation for the startup. In many ways, the new feature changes the nature of the app, moving ti away from private sharing to a more public, Instagram-type function.

Reference: http://mashable.com/2013/10/04/snapchat-stories-future/