Snap Buys Illumix to Power Specs Glasses as Q1 Revenue Rises 12%
Updated
Updated · Variety · Jun 4
Snap Buys Illumix to Power Specs Glasses as Q1 Revenue Rises 12%
3 articles · Updated · Variety · Jun 4
Summary
Snap said it will fold Illumix’s spatial AR technology into its revamped Specs glasses and keep most of the startup’s staff, though it did not disclose the deal value.
Illumix’s appeal was its work scaling mapping technology for real-world experiences, giving Snap tools to better blend digital content with physical environments in future wearables.
January’s launch of Specs Inc., a standalone AR-glasses unit, shows the acquisition fits a broader push that Snap plans to detail at the June 16 Augmented World Expo in Long Beach.
Q1 results underscored that push: revenue rose to $1.53 billion, net loss narrowed to $89 million, and Snap said Lenses built for the glasses increased 28% year over year.
Snap is betting smartglasses will be the next major computing platform, using the Illumix deal to strengthen its position against Meta and Apple.