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).
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
Mortgage rates have dropped below 7% for the first time since the middle of August.
