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Snap judgment: Small firm changing name to clear confusion

Mar. 08, 2018 5:53 PM ETSnap Inc. (SNAP) StockPALT, SNAPBy: Jason Aycock, SA News Editor2 Comments
  • Snap (NYSE:SNAP) may be losing more than 100 engineers, but it is gaining some room to itself in the name space, at least.
  • Nanocap firm Snap Interactive (STVI) -- an existing publicly traded company that ended up mired in public confusion after Snapchat rebranded itself to Snap -- is changing its own name, to PeerStream.
  • Snap Interactive had filed a trademark infringement lawsuit to prevent Snapchat's rebrand, but the two companies quietly settled more than a year ago. It's not clear whether this new renaming is part of that settlement.
  • But in any case, the new PeerStream has pivoted to blockchain from social networking.
  • Confusion between the two led to a triple-digit jump in STVI stock at the time of the SNAP IPO.

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