Would love to get opinions on this change in their company and why they're doing it.
According to Sensor Tower volumes Snapchat has no signs of desperation.
Rebranding usually has nothing to do with desperation or failing products, more likely with a different market positioning.
Snapchat could be sold tomorrow for around 15 billions with just 330 employees. To me this looks pretty successful !
Snap Inc (widely known as Snapchat) is moving towards hardware and wants to be known for being a camera company.
It like Google rebranding itself as Alphabet and becoming a smaller branch of the whole company.
Snapchat is not a failed product as they plan to move to IPO their brand for a value of 25-30 Billion dollars (that's a unicorn value).
Regarding their hardware move, they are setting up a Research & Development (R&D) office in Shenzhen, China, a global manufacturing hub that brings in
Since it’s main strategy is to acquire startups that lines up with above goal.
See the list of acquisitions here:
Snap Inc. - (Source: Crunchbase - https://www.crunchbase.com/organization/snapchat/acquisitions)
Areas of interest include wearable and flying cameras with names like Narrative and Lily Robotics having been part of discussions.
Feel free to ask more about Snapchat or Snap Inc. I really am BIG on the platform itself.
It is a name change to embody the company's vision and intent to expand beyond just their flagship product (mobile app) and what they're known for best.
Not sure why a rebranding would directly imply failure.