Today, Snap Inc. announced the creation of Specs Inc. as a wholly-owned subsidiary. The move is intended to give the smartglasses business greater operational focus and flexibility.
“Establishing Specs Inc. as a wholly-owned subsidiary provides greater operational focus and alignment, enables new partnerships and capital flexibility including the potential for minority investment, allows us to grow a distinct brand, and supports clearer valuation of the business as we work towards the public launch of Specs later this year,” according to the company.
Snap has spent over ten years developing Specs, a type of eyewear that integrates digital experiences with real-world environments. The smartglasses use see-through lenses to display digital objects in three dimensions and support natural controls such as hand gestures and voice commands. Developers have already begun creating applications for Specs in areas like education, gaming, and productivity.
The company said, “Computers and smartphones feel like they are designed to capture our attention, block out the real world, and isolate us from our in-person relationships. Specs do the opposite, keeping you present in the moment, and bringing you together with friends, family, and coworkers through shared experiences like running around in the backyard playing capture the flag, learning about chemistry by simulating reactions, or reviewing virtual designs of a new product together as a team.”
Specs will feature an Intelligence System that uses artificial intelligence to assist users while protecting their privacy. Snap stated: “Specs are launching at an important time, as artificial intelligence transforms the way that we use our computers. Instead of an operating system that expects us to do all of the work, Specs feature a first-of-its-kind Intelligence System that uses its understanding of you and your world to help get things done on your behalf while protecting and respecting your privacy. We’re building a computer that we hope you’ll use less, because it does more for you.”
Looking ahead, Snap expressed optimism about reducing waste by replacing some physical items with digital goods created through Specs technology: “Over the long term, we’re also optimistic about the potential for Specs to reduce waste and make everyday tools more widely available as some physical objects are replaced by digital goods. Everything from whiteboards and instruction manuals to televisions and toys can be created with Specs and shared with friends, without extracting additional resources.”
