SRAX Recap: Snap Spectacles 2.0, Instagram Shopping App, Vimeo Stock Library

In this week’s digital news, Snap Inc. releases Spectacles 2.0, Instagram developing shopping app, Vimeo Stock launches, and more.

Snap Inc. unveils Spectacles 2.0

Two new styles of Snap Spectacles, the Nico and the Veronica, were introduced this week. The sleek glasses are polarized and come in black, causing them to look more like ordinary sunglasses. They can capture hundreds of photos or 70 videos and connect to a user’s phone wirelessly. While the new specs don’t boast much in the way of technological advancements, they offer a sleek, more natural appearance. The current price is $199, and the new toy will also be available in Nordstrom Rack and Neiman Marcus later in 2018.

Instagram looks to sell more than ideas

While instagram is already a popular way for consumers to browse for purchases, a standalone app is in the works. The new development would allow users to buy things directly through the app. More than 25 million Instagram business profiles would be able to sell products directly to their established followers. If the standalone app is successful, which is not guaranteed, it would start to compete with e-commerce apps like Shopify. The real challenge will be how the company links the Instagram app and the Instagram Shopping app together. If it’s truly seamless, it may have a fighting chance.

Vimeo Stock video marketplace takes off

Vimeo Stock is the new royalty-free marketplace for creators to sell their video to individuals and agencies. There are a few pricing differences, with content exclusive to Vimeo going for a higher price. Non-exclusive content costs $79 for HD clips and $199 for 4K clips, while exclusive content costs $299 and $499 respectively. Creators will receive 60-70% of revenue per clip, which is over twice as much as competitor Shutterstock offers. The business model looks promising, and Vimeo already has its eye on future updates, like the ability for buyers to request content from specific creators and effectively commission high-quality video through the platform.

Amazon catches up to Apple’s 1 trillion market cap

The price of Amazon shares has been on the rise in 2018, but the company reached a truly impressive milestone this week when its valuation hit $1 trillion. The achievement comes just a month after Apple shares reached the same benchmark, meaning that Amazon and Apple are the first two companies in the U.S. to reach $1 trillion in market capitalization. Amazon’s growth, however, has been exponential. The price of shares have doubled in the past 12 months and tripled in two years. As of September 4, the shares were going for around $2,050, and they are likely to keep going up.

Senate Committee grills Facebook and Twitter about keeping election integrity

This Wednesday, Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg were questioned by a Senate committee over a variety of topics. Dorsey and Sandberg had to answer to concerns over the proliferation of malicious accounts on both platforms and possible anti-conservative bias in the respective platforms’ algorithms. Among the main takeaways was that Twitter is considering a label to identify accounts managed by bots. Dorsey also claimed that the company has developed better tools and drafted stricter policies to help combat these issues. Sandberg claimed that Facebook has doubled its safety and security teams to help eliminate fake news, and made the verification process for political advertisements more strict. Both Dorsey and Sandberg noted that they’re working with outside organizations to fight foreign influence on the platforms.




Published on September 7, 2018

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