When talking about messaging services these days, it’s hard not to mention Snapchat. The young, tech-hungry, millennial types have taken it upon themselves to share every waking moment of their lives through short, snippets of video, or “snaps”. As useless or embarrassing as they may be, snaps have an estimated value over $16 billion USD. However, the messaging platform itself doesn’t really have ways to monetize that. In order to do so, they look to go the way of Google Glass.
SNAPCHAT SEEKS PROFIT, COPIES GOOGLE
The company’s research team, Snap Labs, is working on releasing a new Snapchat hardware. Rumour has it that it will be something along the lines of a Google Glass type of device or a recording wearable. Reports of job postings have been popping up over the web suggesting that Snap Labs is on the lookout for the new muscle that brings in some profits. 3D visual engineers and app developers are among the potential hires. This suggests not only a new type of device but new apps that would garner Snapchat some public attention.
DESPITE GOOGLE GLASS FAILURE, SMART GLASSES STILL IN
With the purchase of Vergence Labs, a company that makes a video recording smart glasses, Snapchat seemingly has a firms grasp on the market. Google Glass didn’t exactly take off when it debuted, but Snap Labs still thinks the future of a wearable device like this is bright. Using the device, the messaging service will be able to combine the two to form a new way to record snaps and monetize their profits. In addition to that, they may be working on a streaming app in light YouTube’ success.
MARKET WIDE OPEN FOR SMART GLASSES
Since Google Glass has all but abandoned the consumer market, there is a gaping hole in which Snapchat can now fill. Google Glass somehow missed the mark with what their consumers want in smart glasses. “Snaps” have proven that people are increasingly interested in others personal lives. People have expressed the need to follow others through the means of video and adding this desire to a technology like smart glasses could prove to be quite profitable.