UPDATE: Amazon.com (AMZN) Said Planning New Video Chat Service Following Recent Acquisition

November 23, 2016 12:22 PM EST

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(Updated - November 23, 2016 12:26 PM EST)

Amazon.com (NASDAQ: AMZN) said planning new video chat service, according to TechCrunch.

UPDATE - TechCrunch noted that Amazon's launch of a video chat service also follows a recent acquisition of Biba Systems, a company that develops and operates video messaging apps aimed at business users.

Microsoft (Nasdaq: MSFT) and its Skype platform might be a potential target for Amazon with the upcoming offering.

It wasn't made clear whether the service might potentially be part of Amazon's Prime membership or run as a standalone platform.

Shares of Amazon are down 1.3 percent.

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