Snapchat announced the company’s new name Snap Inc and the expansion of its products to include Spectacles, sunglasses that record a 10-second video.
The metamorphosis to Snap Inc comes at a pivotal time where social media empires are becoming competitive with tech corporations. Their release of Spectacles comes at an opportune for the company, as it has surpassed Twitter with 150 million daily active users.
The glasses are far from the smart glasses that are being produced by EPSON, Meta, Microsoft and Magic Leap, even CEO Evan Spiegel called it a toy, but the popularity of Snapchat could help Spectacles hit the mainstream. The potential success of Spectacles would be beneficial for augmented smart glasses, making it cool to wear technology on glasses. The unique design and expensive price tag contribute to a risky purchase for consumers, but ultimately Spectacle users will want more than just the ability to record 10-second videos.
The name change hints towards more product releases and there is evidence through business acquisitions that there is more to come from Snap Inc.