More innovation will be the key to Snap’s survival, according to Mashable business reporter Kerry Flynn.
“They need to prove that they’re ahead of the curve,” she told Cheddar Friday, the one-year anniversary of the company’s IPO.
Her comments came on the same day that Cheddar’s Alex Heath broke the news that Snap is working on a [Spectacles “2.0”](https://cheddar.com/videos/exclusive-snap-to-release-new-spectacles-this-year) that could roll out later this year and be followed by a third version in 2019.
The news may be surprising, considering the original Spectacles didn’t quite make a splash the company hoped. Only 150,000 pieces were sold, leaving hundreds of thousands of glasses gathering dust in warehouses and resulting in a $40 million loss.
The second version, Cheddar has learned, will be available in new colors and have some minor updates. The third version will have two cameras to allow for greater depth in videos. It could cost $300, more than double the current option’s price.
But [Flynn doesn’t think these new products will do much to draw in new users](https://mashable.com/2018/03/02/snapchat-spectacles-2/#H8hIBXeKsiqA) or bring back ones that left.
“Maybe for some top creators...maybe like the GoPro audience we’ve seen before. But is that enough to really move the needle for Snapchat? I don’t think so.”
But the one thing Snap has going for it, Flynn says, is holding on its key teenage audience.
“When it comes to the teens and also the 18-24 audience, Snapchat does perform better,” she said. “That audience is so craved for advertisers.” And if the app can continue to hold on to those users, she said, it will stand strong.
For the full interview, [click here](https://cheddar.com/videos/snaps-year-in-review).
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
Millions of people have selected insurance plans for 2024 but sometimes navigating them can be tricky time consuming and expensive. Paula Pant, host of 'Afford Anything' podcast, joined Cheddar News to break down what's needed to know about their insurance plans.
The European Union is investigating Elon Musk's X over alleged illicit content and disinformation on its platform. Cheddar News breaks it all down and discusses what it could mean for users.
Adobe and Figma called off their $20 million merger, Southwest Airlines gets fined, Nippon Steel is buying U.S. Steel and oil and gas prices surge after a pause in shipments.
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Japan's Nippon steel is buying U.S. Steel for $14.9 billion.
Southwest Airlines will pay a $35 million fine as part of a settlement over a 2022 holiday season disaster that saw the airline cancel thousands of flights and leave millions of people stranded.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Stocks opened slightly higher after Monday's opening bell after several weeks of gains as the year closes out.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
