Snap to Shutter Business-Focused AR Unit That Just Launched This Year
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Snap Inc. is closing a division focused on making augmented reality services for businesses, pulling the plug on its latest attempt to diversify the ad-dependent company.The ARES unit, short for augmented reality for enterprise services, was just announced in March. The idea was to let retailers adapt Snap's AR technology for their own websites. But the company ultimately realized that the cost and complexity of the endeavor was too great, according to a memo from Chief Executive Officer Evan Spiegel that was reviewed by Bloomberg and confirmed by a Snap spokesperson. ARES was one of Snap's biggest new undertakings since the social media company was restructured last year, and its quick demise shows the challenges of adapting to a world roiled by the artificial intelligence boom....