Today's Microspeak is the word snap, which means "To take a snapshot of the source code," usually for the purpose of producing a build.
The build lab snaps at 6pm, so make sure your changes are in by then.
This is saying that the build lab will take whatever has been checked in as of 6pm and use that to generate a build. If you commit your changes at 6:01pm, they won't be in the build.
The term snap may be applied to a process that goes beyond a single build:
The release team is going to snap at 6pm for the beta.
This means that the release team has decided to create a release branch based on what was checked in at 6pm. If you want your changes to be in the beta, they need to be checked in before 6pm.
Nobody ever says snapshot. It's just snap.