Snapchat rebrands to Snap Inc.

Snapchat unveils its latest project, but what is it?

Snapchat has recently rebranded itself as Snap Inc. 

The Venice-Beach based company has reinvented itself to reflect its new direction as a "camera company". 

Snap, which has 150 million daily active users is forecast to reach nearly £773m in global advertising sales in 2017, according to a recent report by eMarketer.

The company will now sell spectacles in three colours (black, teal or coral), for approximately $130 (£100), and is significantly cheaper than other virtual reality products, such as Google Glass. 

We look forward to seeing the product develop!