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MarketWatch: Snapchat has released a new update for its app and, with it, a new privacy policy that dramatically changes what the social network can do with the images users post. First launched in 2011, the social networking app became popular among young people in particular for its “disappearing” photo messages. But an update to its terms of service indicates that Snapchat has the rights to reproduce, modify and republish your photos and save those photos to company servers, specifically in relation to the Live Story feature.