Snap is betting $3.5 billion on AR glasses that businesses can use as CEO Evan Spiegel sees a post-smartphone era
Snap CEO Evan Spiegel says the era of the smartphone is coming to an end—with smart glasses being the future.
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# Summary Snap is investing $3.5 billion in augmented reality glasses aimed at the business market, positioning the company to capitalize on what CEO Evan Spiegel believes will be a post-smartphone era dominated by AR wearables. This major capital commitment reflects Snap's strategic pivot from consumer social media toward enterprise hardware, betting that smart glasses will become the primary computing platform as the smartphone era declines.
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