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).
Stocks are ticking higher on Wall Street early Monday ahead of a big week for central banks and interest rates around the world.
Billionaire investor turned philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros, according to an exclusive interview with The Wall Street Journal published online Sunday.
UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil.
Gene sequencing test maker Illumina Inc. said Sunday that its board has accepted the resignation of its CEO and director, Francis deSouza, effective immediately.
“Any consumer can tell you that online airline bookings are confusing enough," said William McGee, an aviation expert at the American Economic Liberties Project. "The last thing we need is to roll back an existing protection that provides effective transparency.”
Cheddar News checks in to see what to look out for Next Week on the Street as former president Donald Trump makes an appearance in federal court after being indicted. Investors will also keep an eye on the Federal Reserve meeting to see what comes out of that while earnings continue to pour in.
Google will launch its long-delayed News Showcase product this summer.
Walmart is expanding its HIV treatments, planning to add over 80 specialty facilities across nearly a dozen states by the end of the year.
The Internal Revenue Service said there are about $1.5 billion in unclaimed tax refunds dating back to 2019.
General Motors will allow its electric vehicles to use Tesla charging stations across the country.
