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BRIEF-Snap Inc "misjudged strong early demand" for spectacles and purchased more inventory than co now anticipates being able to sell
November 7, 2017 / 10:58 PM / 18 days ago

BRIEF-Snap Inc "misjudged strong early demand" for spectacles and purchased more inventory than co now anticipates being able to sell

Nov 7 (Reuters) - Snap Inc:

* Snap Inc - co “misjudged strong early demand” for spectacles and purchased more inventory than co now anticipates being able to sell

* Snap - “moving forward, we will continue to be in the market place with spectacles and expect modest revenue from the product line”

* Snap Inc - “we are currently redesigning our application to make it easier to use”‍​

* Snap - “there is a strong likelihood that the redesign of our application will be disruptive to our business in the short term”‍​

* Snap - willing to take risk of redesign “for what we believe are substantial longterm benefits to our business‍​”

* Snap - “we don’t yet know how the behavior of our community will change when they begin to use our updated application”

* Snap says in 2018, going to build more distribution and monetization opportunities for creator community on snapchat - prepared remarks‍​ Source text: (bit.ly/2javruV) Further company coverage:

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