Snap says it lost nearly $40 million on 300,000 unsold Spectacles

Comments

  • Good old hype. Great for entertainment, bad for investments.

    • ToniCipriani ✓pǝᴉɟᴉɹǝʌ

      Snap was banging themselves on the head when they rejected Facebook’s $3B offer, and was desperate to find some value in the company, they just had to hype something up to show they have tangible assets.

    • Now all they have is tangible debt

  • Marshall Davidson

    Haha…Serves them right. This was a totally USELESS offering to begin with that is a gross violation of privacy in the worst sense.

    • It’s Me

      Glass was more of a privacy concern but this was pretty close. Who didn’t see these and think they were a joke?

    • Marshall Davidson

      I wouldn’t be caught dead wearing this crap.

  • Brad Fortin

    I guess MobileSyrup’s “Connected eyewear is back and this time it’s going mainstream” prediction from earlier this year was a bit premature.

    • Can’t Fix Stupid

      Might as well have been “3d TV is gonna be big this time around”

    • It’s Me

      “This is the year VR really goes mainstream. It’s not just the next big thing, it’s the big thing!”

    • Can’t Fix Stupid

      This is what happens when you give a company about nothing an $18 bin market cap, and that’s down from when it ipo’d.

    • It’s Me

      Was that really their valuation? Crazy. It’s the dot com bubble all over again.

  • ToniCipriani ✓pǝᴉɟᴉɹǝʌ

    *Insert Grumpy Cat Here*

    GOOD.

  • EBIGN

    They had a huge demand when they launched but partnered with a company that only sells them through vending machines. Now they are expecting the same hyped up demand as it launched and want to charge premium. I honestly would of bought one during launch at 1/4 the price.

  • Razvan Zamfir

    Not to nitpick that report, but the way they put it each lost sale was a loss of equal amount…. which is false. They lost manufacturing costs/marketing(if any)/engineering. But I think that number is closer to 10M to be realistic.
    Just like one pirated game/song/movie does mean an equal value loss of revenue.