Snap Inc. spins off Specs smartglasses business into separate subsidiary

Snap Inc. announced it is establishing Specs Inc. as a wholly-owned subsidiary to house its augmented reality smartglasses business ahead of a planned public product launch later this year. The restructuring provides operational focus and enables potential minority investment in the business, according to the company. Snap has been developing Specs for over a decade as an alternative to traditional screens, featuring see-through lenses that overlay digital objects onto the real world using hand and voice co ...