Imagine if Apple called itself a watch company based on its smartwatch, or if Microsoft called itself a videogame company based on its offering the Xbox. These descriptions might be technically true but lack credibility based on the full nature of their business. So it is with Snap, Inc., which calls itself a camera company. And while it may define “camera” coyly or have grand plans to reshape itself, for now the only “camera” it makes are the novelty Spectacles.
Video-recording sunglasses may be promising, even pioneering, but the company is seeing the world through rose-colored Spectacles if it doesn’t realize it must do more to grow revenue. According to its S-1 filed before Snap’s successful IPO, Snapchat (its real product), user growth slowed in the back half of 2016. The big question advertisers ask about Snap is whether it is headed to Facebook-like heights or a Twitter-like fade.