Source: The Information
Summary
Snap Inc. is spinning off an internal unit focused on AI video development, which will be called Dotmo. The new company will consist of current Snap staff who are leaving the social media company to work on the project. This move follows Snap’s previous spin-offs, including Bitmoji and Zenly.
Our Reading
The launch follows a familiar script.
Snap is spinning off yet another internal unit, because that’s what companies do when they want to make it sound like they’re innovating. Dotmo will focus on AI video development, because of course it will. The new company will be comprised of current Snap staff who are leaving the social media company to work on the project, which is just a nice way of saying “we’re reorganizing”. This is just another example of a company trying to make old ideas sound new again. Because, hey, who needs actual innovation when you can just rebrand and spin off?
Author: Evan Null
