Snap introduced a new Bitmoji shortcut enabling users to chat with friends via Snapchat straight from their home screens, amid mounting pressure over its financial forecasts.

The customisable emoji service enables users to create Bitmoji widgets for their favourite friends, and launch straight into a chat from the iOS Today screen or Android home screen, TechCrunch reported.

Snapchat started testing this last week in Android beta, but now it will roll out to all users via an iOS and Android app update. Parent Snap acquired Bitmoji a year ago for $64 million.

The company is seeking to innovate on services to stave off growing competition, and to address predictions its 2017 advertising revenue will fall short by $30 million compared with previous forecasts.

Facebook emerged as a key competitor, having launched its own version of Snapchat’s Stories feature for Instagram, and is now rolling it out for its core app as well. However, the social network is yet to follow suit in terms of Snapchat’s ephemeral messaging feature.

According to TechCrunch, “by redoubling its efforts in chat, Snap could entrench itself as the most casual, low-pressure way to talk with friends since all messages delete themselves by default.”

Meanwhile, digital marketing firm eMarketer said Snapchat’s ad revenue in 2017 will grow 158 per cent to $770 million in the US, slightly lower than the $800 million previously projected, due to “higher-than-estimated revenue sharing with partners”.

“Snapchat’s ad business, which is made up entirely of mobile display, is still small. Snapchat will account for 1.3 per cent of the US mobile ad market this year,” it said, adding that by 2019 the proportion will grow to 2.7 per cent.

In comparison, Facebook’s share is likely to be 20 per cent this year.

Snap launched its IPO two weeks ago and its stock has lost 16 per cent of its value from the end of its first day of trading, as investors grow concerned about its user growth.