The company, which has rebranded as Snap Inc. to encompass its efforts beyond the mobile app space, will sell Spectacles for $130 in three colors (black, teal or coral), per WSJ. That's significantly cheaper than the $1,500 price point for Google Glass, the search giant's wearable experiment that it has stopped producing.
But while Spectacles could eventually turn Snap into a wearables competitor or push it into the augmented reality space (the company is reported to have acquired AR company Seene this summer), for now CEO Evan Spiegel, speaking to WSJ, is referring to the device as a toy, noting that "we're going to take a slow approach to rolling them out. It's about us figuring out if it fits into people's lives and seeing how they like it."
Snap, founded in 2011 while Spiegel was still a student at Stanford University, has grown significantly beyond its roots as an app for disappearing photos. It now offers 24-hour public streams, called Stories, and has a platform for publishers and entertainment brands, Discover, that refreshes each day. The company, which famously rebuked Facebook CEO Mark Zuckerberg's $3 billion acquisition offer, has also made a number of acquisitions to build out its product offerings, including emoji-maker Bitstrips. Today, Snap has 150 million daily active users and is valued at around $16 billion.
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Snap has been rumored to be working on a glasses product for some time. Earlier on Friday, Business Insider published clips from a leaked advertisement for Spectacles that showed someone recording a kid's birthday party from the first-person point of view. The video was later taken down. Billboards of the company's ghost mascot wearing the glasses have already begun to appear in New York, Los Angeles and San Francisco.
A Snap spokeswoman did not immediately respond to a request for comment.
This article originally appeared in THR.com.