Snap is shutting down its division called AR Enterprise Service (ARES), which focused on offering AR expertise to enterprise customers. The closure was attributed to the emergence of AI tools that level the playing field for creating AR try-on experiences and the need to invest more in web tools instead of mobile. The closure will result in the loss of 170 jobs, but some employees may be reassigned to other roles. Snap introduced ARES in March, showcasing its Shopping Suite and AR Mirrors offerings to brands. Despite declining revenue, Snap’s daily active users have grown, and it recently surpassed 5 million paid subscribers for Snapchat+.
https://techcrunch.com/2023/09/27/snap-shutters-its-enterprise-services-division-after-less-than-a-year/