Snap Is Testing a New  Service

Snapchat+ Subscription

 Social media company

 Snap may be jumping on the paid subscription service bandwagon with a new offering called Snapchat+.

Rumors swirled on Twitter 

Thursday about a subscription service for the disappearing-photo app that would cost users around $5 a month 

Company has started early

 internal testing of the service, but declined to comment on the rumored features or pricing

The news comes as Snap 

attempts to kickstart its business following a bruising few months for the company, as well as the broader tech sector.

Snap posted a net loss

 of about $360 million. Snap warned investors that its revenue and profits for the current quarter would be lower 

According to reports from 

Bloomberg and the New York Times, CEO Evan Spiegel warned in an internal memo that the company would slow hiring

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