EVAN SPIEGEL SPECS
Snap targets enterprises with Salesforce, Nvidia AI tools for augmented-reality glasses
Snap on Wednesday announced partnerships with companies including Salesforce, Nvidia and Amazon Web Services to integrate workplace tools into its Specs augmented-reality glasses, courting enterprise demand to carve a foothold in the heavily contested market.
Snap beats revenue estimates on ad boost from World Cup, shares surge
Snap's second-quarter revenue surpassed estimates, boosted by World Cup advertising and large advertiser activity. The social media company is enhancing its ad platform with AI-powered tools for better targeting. Daily active users grew five percent, maintaining prior growth rates across the platform. Despite competition, Snap's revenue jumped nineteen percent to $1.60 billion. The company anticipates continued revenue growth in the upcoming third quarter.
Snap Bets on AR Glasses again, this time with SPECS priced at $2,195 for pre-order
Snap has unveiled SPECS, its most advanced augmented reality glasses yet, as the company intensifies its push into the emerging spatial computing market. Priced at $2,195 and available for pre-order, the AI-powered glasses combine navigation, productivity tools, entertainment features, and contextual assistance directly within the user’s field of view. Weighing significantly less than traditional mixed reality headsets, SPECS aim to bridge the gap between lightweight smart glasses and immersive AR devices.
Turtlemint investors IPO cash out; Ola Electric eyes Sebi settlement
Peak XV and Nexus Venture Partners are set to rake in manifold returns as insurtech company Turtlemint goes public. This and more in today’s ETtech Top 5.
Everything you need to know about Specs, Snap’s latest venture into augmented reality
Snap has positioned the glasses as a standalone AR device that overlays 3D digital content onto the real world, aiming to bridge the gap between lightweight smart glasses such as Meta’s Ray-Ban smart glasses, and bulkier mixed-reality headsets such as Apple Vision Pro.
Snap CEO Evan Spiegel defends Specs as long-term bet, pushes back against activist pressure
Snap CEO Evan Spiegel is pushing back on investor calls to cut its augmented-reality glasses unit. The company launched its new AR glasses, called Specs, at $2,195. Spiegel stated Snap is committed to its long-term vision and independence. He indicated more details on partnerships will be shared later this year. The unit was made a standalone subsidiary in January.
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Snap bets on AR glasses in post-smartphone race
Snap, the parent company of social network Snapchat, on Tuesday launched its Specs augmented reality glasses, a major bet by a struggling company to stake out ground in the post-smartphone era. Unveiled at the Augmented World Expo in Long Beach, California, the Specs are the first standalone augmented reality glasses aimed at the general public, according to the company.
Snap says $400 million AI search deal with Perplexity was called off "amicably"
Snap has amicably ended its partnership with AI startup Perplexity, canceling plans to integrate Perplexity's AI search into Snapchat. The deal, valued at $400 million, would have brought conversational AI search to the app. Despite this, Snap reported stronger first-quarter results with a 12% revenue increase and narrowed net loss.
Snap layoffs: CEO Evan Spiegel cites productivity gains from AI adoption in note to employees
Snap Inc. is laying off 1,000 employees, approximately 16% of its workforce, and eliminating over 300 vacant roles. CEO Evan Spiegel cited the need for cost control and more efficient operations to achieve sustainable, profitable growth. The company aims to reduce its annualised cost base by over $500 million by the second half of 2026, partly driven by AI advancements.
US Stocks: Snap to cut 1,000 jobs after activist pressure, bets on AI efficiency; shares up 5%
Snap will lay off about 1,000 employees, including 16% of full-time staff, the company said on Wednesday, becoming the latest tech firm to shift toward leaner teams as it ramps up AI adoption to streamline operations.
Snap stock price: Here's why Snap Inc. shares are up today
Snap stock price moved higher after the company announced layoffs affecting about 16% of staff and more than 300 open roles. Snap Inc said artificial intelligence will reduce repetitive work and support smaller teams. The company expects cost savings of more than $500 million by the second half of 2026. Investors reacted to the plan as the company aims to improve profitability and compete with larger tech firms.
Snap layoffs: Company may cut up to 1 in 5 jobs; Perplexity integration called off
Snap Inc. is reportedly planning substantial job cuts, potentially impacting 15-20% of its workforce, as reported by Alex Heath. While some teams face significant reductions, the Specs unit, focused on AR smart glasses, is expanding hiring. Meanwhile, a planned $400 million integration with Perplexity AI has reportedly been aborted due to disagreements.
Snap's direct revenue hits $1 billion annualised run rate as subscribers top 25 million
Snap said on Wednesday its direct-revenue business has reached $1 billion in annualised revenue run rate, driven by growth in its Snapchat+ subscription service, as the social media company pushes into new income streams beyond advertising.
Snap seeks investments as new smart glasses unit takes on Meta
Snap is launching a new unit for its augmented reality smart glasses. This move aims to attract outside investment and challenge rival Meta. The company has invested heavily in AR technology. The new smart glasses will feature an intelligence system. Snap is actively hiring for this new venture. This positions Snap for future growth in the wearables market.
Snap to launch lightweight, immersive spectacles in 2026 as smartglass race heats up
Snap’s Specs are wearable computers that are integrated into a lightweight pair of glasses featuring see-through lenses that augment the physical world. In 2024, the parent company of the messaging app Snapchat released the fifth generation of its Spectacles specifically for developers, leading the way for the public launch of Specs in 2026.
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