Mashable: Snap’s unsold Spectacles go on sale in east London

Mashable: Snap’s unsold Spectacles go on sale in east London . “They were supposed to change the snapping game forever, and maybe they did, but Snap’s Spectacles caused a staggering $40 million loss on unsold devices to the company. To try to get rid of some of those Spectacles — which, according to reports, are sitting in a warehouse in China by the hundreds of thousands — Snap has announced it will sell them in a pop-up shop in east London.” But still pricing them at $129? Yeah, that makes sense. Sure it does.

Boston Globe: Why we need Snap and Twitter to learn how to make some money

Boston Globe: Why we need Snap and Twitter to learn how to make some money. “The numbers are in and they’re more lopsided than the Boston mayoral race. In the social media sweepstakes, it’s Facebook by a mile. Last week, the massive social network reported third-quarter revenue of $10.3 billion and net income of $4.7 billion, both well above Wall Street’s expectations. However, the social messaging service Twitter and Snap, creator of the Snapchat photo-sharing app, were both in the red, with Snap posting a $443 million loss.”

Snap: We’ve blown $3bn this year and Tencent wants to give us more (The Register)

The Register: Snap: We’ve blown $3bn this year and Tencent wants to give us more. “Nose-diving social media company Snap Inc. says it has secured a significant investment from Chinese tech powerhouse Tencent. The photo sharing company slipped the disclosure into yesterday’s remarkably poor quarterly earnings report, saying the 145 million shares were a non-voting stake and would not be subject to much scrutiny from regulators.”

TechCrunch: Why Snapchat Spectacles failed

TechCrunch: Why Snapchat Spectacles failed. “Snap did some things right with Spectacles. The fashion photo spread announcement felt classy and surprising despite clues and photos of CEO Evan Spiegel trickling out ahead. The initial launch was a marketing extravaganza, with multi-hour lines of cool kids waiting on the Venice Beach boardwalk to buy them. And the Snapbots being dropped in random locations was exciting and made people feel special if they got ahold of them. But once people put them on their face, the excitement died off. Here’s a breakdown of the major flaws that emerged with Spectacles in the year since their debut, with a focus on the stilted launch strategy…” Really thorough.

Wired: Will Facebook Kill All Future Facebooks?

Wired: Will Facebook Kill All Future Facebooks?. “Since 2012, Facebook has repeatedly copied or acquired social-media apps that gain traction. There’s the Instagram deal, and more astonishingly, its $22 billion acquisition of WhatsApp. Facebook attempted to acquire Snap for $3 billion, was turned down, and made at least 10 attempts to copy its most distinctive features. Last week the company acquired tbh, an anonymous app for teens that has bubbled up in recent months.”

Gizmodo: It Sounds Like Snap Spectacles Turned Into a Massive Boondoggle

Gizmodo: It Sounds Like Snap Spectacles Turned Into a Massive Boondoggle. “This is kind of a sad story. In November, Snap Inc blew everybody’s mind by releasing a surprisingly interesting piece of hardware. The camera-equipped sunglasses called Spectacles worked with Snapchat and looked cool. But a year later, the company reportedly has ‘hundreds of thousands’ of unsold Spectacles sitting in warehouses in China. It’s unclear if any of them will ever see the light of day.”