Snapchat's latest feature unveiled

This week, Snapchat unveiled its latest feature as it continues to compete with Facebook and Instagram. The new tool lets users collaborate with friends and family on custom stories.

The feature encourages users to create event specific stories (i.e. Sophie’s Birthday or Hen’s Night), which particular users will have access to and be able to contribute to the content.

You can now also choose to ‘geofence’ the story around a certain location, which allows only friends at that location or friends of friends to see.

To create a custom story, tap the "Create Story" icon in the top right corner of the stories page. Name the story, invite a specific list of friends or invite users based on their location.

Stories disappear if no one has added to them in the last 24 hours. Snapchat said the custom stories update is rolling out and should be available by Wednesday.

Instagram launched its own stories feature last August, which has become increasingly popular. Last month, Instagram said stories had more than 200 million daily active users, which is more than Snapchat’s active users (166 million).