Snapchat made a secret acquisition to power its new video…

Ellis Hamburger takes an exclusive look at the new Snapchat app, which lets you text friends and do live video calls, but not exactly how you'd think.

What is the thing you send on Snapchat? Since time immemorial (or fall 2012), I would've answered: a snap. The first syllable of the service's name—denoting a picture-with-a-half-life—was Snapchat's unambiguous atomic unit, its clear medium of exchange.

What is the thing you send on Snapchat? Since time immemorial (or fall 2012), I would've answered: a snap. The first syllable of the service's name—denoting a picture-with-a-half-life—was Snapchat's unambiguous atomic unit, its clear medium of exchange.

Snapchat's founders are hoping to transform the company's product into something more sophisticated and sleek, a primary hub for mobile messaging.

Snapchat launched new features on Thursday that will allow users to send text messages and video chat live with friends. “Until today, we felt that Snapchat was missing an important part of conversation: presence,” Snapchat said on its blog. The new