Credit: Photo by Alexander Shatov on Unsplash
Snap Inc., the parent company of Snapchat, has formed Specs Inc., a wholly owned subsidiary to manage its Augmented Reality (AR) eyewear business.
The new structure is intended to "provide greater operational focus and alignment for the business, enable new partnerships and capital flexibility - including the potential for minority investment - support the growth of a standalone brand, and allow for clearer valuation" as the company prepares to launch new Specs later this year.
The hardware uses transparent lenses to overlay 3D digital objects onto the real world, controlled via hand gestures and voice.
These Specs run on an intelligence system designed to understand the user's environment and perform tasks automatically.
Snap Inc. said "The goal is to create a computer that people use less, because it does more for them."
Snap Inc. also aims to use AR to replace physical items like whiteboards, televisions, and toys with digital versions to reduce waste.
Describing this shift, the company reflected on digital transformation.
"Nearly 50 years after the introduction of the personal computer, Snap Inc. believes the industry is ready for a new computing paradigm - one that puts people first, strengthens real-world connection, anticipates user needs, and reduces environmental impact by substituting physical goods with digital ones."
Specs Inc. is currently recruiting for nearly 100 roles globally ahead of the next generation's release.
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