Cheddar morning business update 8/11: Amazon to take on Ticketmaster

Posted: Updated:
NEW YORK -

Shares of Snapchat’s parent company, Snap, are plunging after the company reported disappointing earnings and user growth. 

The number of daily Snap users only increased by 7 million from the first quarter, compared to 8 million the previous quarter.

Investors have been concerned about increased competition from Facebook and Instagram, which have been adding Snapchat-like features. 

Also, Amazon is looking to take on Ticketmaster.com by partnering with venue owners to sell event tickets. 

According to Reuters, the retailer sees an opening in the ticket market because consumers hate ticket fees and want more access to events.

It is possible that could be another perk for Prime members.

Consumer Reports is no longer recommending Microsoft Surface laptops and tablets, after a study estimated that about 25 percent of the devices will have problems by the end of the second year. 

Consumer Reports says it will not recommend any other Microsoft laptops or tablets either, because of their "poor predicted reliability" compared to other brands.

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