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Snap
on Wednesday said its unit working on the development of augmented reality glasses is now housed under a wholly owned subsidiary named Specs Inc.
The company said the subsidiary will provide “greater operational focus and alignment” as Snap gears up to launch Specs AR glasses this year. The subsidiary will also help the company gain new partners and provide “capital flexibility” that includes the “potential for minority investment,” the company said in a blog.
Snap didn’t say how many employees will work at the subsidiary, but the company said Specs is currently hiring for nearly 100 roles.
