Snapchat rebrands to Snap Inc

Snapchat has rebranded to Snap Inc to reflect its new direction as a "camera company".

Snapchat rebrands to Snap Inc

The company, co-founded by 26-year-old chief executive Evan Spiegel in 2011, is also launching its first hardware later this year. Snap is launching Spectacles, a pair of sunglasses that can record videos of up to 10 seconds in length.

Its website, which redirects to snap.com, says Snap is a "camera company" – as opposed to a social media company. Spiegel reiterated this in an interview with the Wall Street Journal magazine on Saturday.

Snap, which has 150 million daily active users, is forecast to reach nearly $1bn (£773m) in global advertising sales in 2017, up from an estimated $366.7 million in revenue this year, according to a recent report by eMarketer.

The rebrand comes a year after Snap launched its ad business. It now sells ads on its Discover and Stories platforms. Discover, which features content from publishers such as CNN and Cosmopolitan, generates nearly half of its revenue in the US.

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
How easyJet transformed customer data into emotional anniversary stories
Shares0
Share

1 How easyJet transformed customer data into emotional anniversary stories

To showcase innovation and good practice, Campaign is publishing the best case studies from the 2016 Marketing New Thinking Awards, held in association with Sky Media. EasyJet and Havas Helia triumphed in the Data Creativity category for their data-driven work on the airline's 20th anniversary.

Just published

More