Snap, Inc, is getting ready for their upcoming their initial public offering at the New York Stock Exchange. Now the most popular app among teens is now expanding their line of features and products with Spectacles.
What are Snapchat Spectacles?
Snap is making their Spectacles Eyeglasses available to the public around the country. Spectacles allow Snapchat users to share 10-second video clips and then upload them directly to Snapchat. Last November, Snapchat debuted the headset in Venice Beach, California and were quickly resold online for up to $1,000 each.
How to buy Snapchat Spectacles?
Now, Spectacles are available to shoppers in the U.S. for $129.99. Buyers can choose from three different colors including: black, blue and red. Consumers who purchase Snapchat’s eyeglasses will have them delivered within two to four weeks.
After someone purchases a pair of Spectacles, all they have to do is pair the device with their phone. The eyeglasses are always on and the LED ring on the front of the glasses turns on once the video start recording. The videos will automatically appear in their memories tab.
The decision to release Spectacles to the public comes after the company is reportedly working on improving their augmented reality technology. The new feature will allow Snapchat users to “identify environmental elements” and interact and augment reality in real time.
Snapchat IPO
While, Snap, Inc. calls themselves a camera company instead of a social media company, the decision to sell Spectacles to the public en masse will give Snap the ability to prove to their investors whether or not they are worth the investment. However, it is important to note that Snapchat explained their biggest competitor is Mark Zuckerberg’s Instagram.
A recent report suggested Snapchat’s growth stalled by over 80% following the release of Instagram Stories. In fact, Snapchat had the lowest growth quarter after Instagram Stories since the company released their data in 2014.
“We face significant competition in almost every aspect of our business both domestically and internationally,” Snap Inc explained. Not to mention, the company pointed out that their competition “mimic our products and therefore harm our user engagement and growth.”