Snap Inc. is what the company will be known as from now on, co-founder and CEO Evan Spiegel announced on Saturday, 24 September. 

“When we were just getting started, it made sense to name our company Snapchat Inc., because Snapchat was our only product,” he writes. “Now that we are developing other products, like Spectacles, we need a name that goes beyond just one product – but doesn’t lose the familiarity and fun of our team and brand.”

The company also revealed on Saturday that, for the past few years, it’s been working on a new type of camera – culminating in the launch of Spectacles. The company describes the thinking behind the product; “Imagine one of your favourite memories. What if you could go back and see that memory the way you experienced it? That’s why we built Spectacles.”

“We’ve created one of the smallest wireless video cameras in the world, capable of taking a day’s worth of Snaps on a single charge, and we integrated it seamlessly into a fun pair of sunglasses – available in three different colours.”

These Snaps will be displayed in a new circular video format. All Snap Inc. has revealed about this new format so far is that these videos play full screen on any device and in any orientation. It promises to capture the human perspective with a 115-degree field of view.