Snap Inc. has created a new subsidiary, Specs Inc., to develop and launch consumer augmented reality glasses called “Specs.” These glasses are expected to be smaller and lighter than previous models and will not require a Snapchat account to use. Snap is actively hiring for nearly 100 roles globally to accelerate development before the launch. The company has increased its lobbying activity as regulatory scrutiny around social media platforms grows. Snap is set to report earnings on February 4. This move may impact the company’s valuation, capital allocation, and long-term strategy. Meta Platforms also operates competing smart glasses products.

Read more at Quiver Quantitative: Snap Forms “Specs Inc.” Subsidiary Ahead of Consumer AR Glasses Launch Later This Year