Google is working on building a Snapchat rival, the The Wall Street Journal reports. Sources say Google is in discussions with several media companies, including Vox Media, CNN, Mic, the Washington Post and Time Inc. about a product called "Stamp" which could be announced as early as next week.

Why it matters: In the race to win the attention economy, tech giants are looking to optimize ways they can deliver content, and especially news content, to audiences in a mobile-first format. Facebook's mobile-first news platform, Instant Articles, is facing backlash from some publishers while Snapchat's mobile-first content platform, Discover, continues to launch more partnerships.

The product is meant to be a fast-loading platform with swipe-based mobile cards (like Snapchat stories) for news content. The name "Stamp" is Stories and Google AMP (its speed-focused mobile news platform) combined. The news comes on the heels of a Business Insider report Thursday that Google wanted to buy Snapchat for $30 billion last year.

Our take: The timing is right for Google to enter the field, but we have three outstanding questions that will determine how Google can compete with its rivals to land publisher deals, attract consumers and sell ads.

1) What will the revenue model look like for publishers?

2) How will they integrate Google search? (Facebook and Snapchat lack search functions in their Instant Articles and Discover Functions.)

3) Who will they let be a part of the program? Will it be open to everyone or a select group of vetted publishers?

A Google spokesperson confirms to Axios that they're working on an open-source project within AMP, but declined to offer more details.

"The success of the open source AMP project is down to the constant collaboration with publishers that involves working early on upcoming features. We don't have anything to announce at the moment but look forward to sharing more soon." - Google spokesperson

Go deeper

Dion Rabouin, author of Markets
33 mins ago - Economy & Business

Investors are betting the future is priced in euros

Illustration: Aïda Amer/Axios

It's the euro's time now — at least that's how investors have been positioning recently.

What's happening: Speculators have raised their bets to the highest in nine years that the dollar will fall and increased bullish bets that the euro will rise to the highest level on record, Reuters reported citing data from the CFTC.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 20,317,087 — Total deaths: 742,035— Total recoveries: 12,602,544Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 5,141,879 — Total deaths: 164,545 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. States: Georgia reports 137 coronavirus deaths, setting new daily record Florida reports another daily record for deaths.
  4. Health care: Trump administration buys 100 million doses of Moderna's coronavirus vaccine.
  5. Business: Moderna reveals it may not hold patent rights for vaccine.
  6. Sports: Big Ten and Pac 12 scrap fall footballMLB salaries at 37%
  7. World: Lebanon reported record new cases as UN warned blast may drive spike — Fauci "seriously" doubts Russia's coronavirus vaccine is safe
Mike Allen, author of AM
2 hours ago - Politics & Policy

3 keys to Joe Biden picking Kamala Harris

Photo: Jeff Kowalsky/AFP via Getty Images

Three quick points about Joe Biden's historic selection of Sen. Kamala (pronounced COMMA-luh) Harris of California as his running mate — and clues they give us to how Biden would govern:

  1. She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.