Snap Adds Specs Inc. Subsidiary Ahead of Eyewear Launch Later This Year

Snap Inc. created a standalone subsidiary within the company dedicated to Specs, its first consumer pair of augmented reality glasses slated for launch later this year.

The Specs Inc. subsidiary announced Wednesday is intended to give the company’s smart eyewear team more independence — similar to the way robotaxi unit Waymo LLC operates as its own company under Alphabet Inc., a Snap spokesperson said. The new Specs subsidiary could raise money from outside investors, but Snap will launch the AR glasses regardless of external investment, the spokesperson confirmed.