On Saturday, September 24, Snapchat Inc. had two exciting announcements: it was changing its name from Snapchat Inc. to Snap Inc. and the company will be releasing Snapchat-related hardware that are glasses called “Spectacles.”
In lieu of the company name change, the CEO of Snap Inc., Evan Spiegel, wrote in a blog post, “When we were just getting started it made sense to name our company ‘Snapchat Inc.’ because Snapchat was our only product! Now that we are developing other products, like Spectacles, we need a name that goes beyond just one product – but doesn’t lose the familiarity and fun of our team and brand.”
With Snapchat being worth over $20 billion, it only makes sense for Snap Inc. to come up with the next technological gadget that millennials and tech-savvy individuals will crave. “Spectacles” are sunglasses with a built-in video camera that can take 10-second video clips. The glasses connect directly to Snapchat via Bluetooth or Wi-Fi and send to your Memories, a new feature that stores your favorite “Snaps” in one place, in Snapchat’s brand new circular video format.
The brand new circular video format, as stated in Snap Inc.’s blog, can play full screen on any device, in any orientation, and captures the human perspective with a 115 degree field of view. The idea behind the Spectacles stemmed from the Snap Inc. team’s desire to be able to relive their favorite memories from the exact way they experienced them. This is now possible as the glasses allow the field-of-view to be from the eye of the beholder.
Spectacles will be available in three different colors which have yet to be revealed. The new Snapchat sunglasses are scheduled to go on sale this fall starting at $129.99.