- 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.