In a form filed yesterday for Snap Inc.’s initial public offering, which could value the ephemeral messaging company at as much as $25 billion, the company revealed future plans for its Spectacles product — a pair of video-capturing smart sunglasses that can share content via the Snapchat app.
In 2017, the company wrote, “we plan to significantly broaden the distribution of Spectacles.” This is telling given that the Spectacles launch almost seemed like a stunt of sorts last November — when interactive vending machines started appearing in various tourist-heavy locales across the country, selling the devices for $130 a pop.
Beyond these so-called Snapbots, there’s been no other way for consumers at large to get their hands on the devices — though that’s seemingly about to change. Nevertheless, Spectacles were immaterial to Snap’s earnings in 2016, the company said, and it doesn’t expect for them to be profitable anytime soon given that “production and operating costs related to Spectacles…will exceed the related revenue in the near future,” according to the filing.
Business Insider also surmises that Spectacles could eventually gain additional capabilities. Given the company’s uber-popular lenses, which enable users to alter their selfies and surroundings, Spectacles could eventually come to serve as a way for users to consume augmented reality, according to the outlet. In this vein, Snapchat reportedly acquired the Israeli augmented reality startup Cimagine — which lets consumers visualize products that they might want to purchase — last month for $35 million.