![]() In spite of the unfavorable baggage and no revenue, Snapchat is growing. Founded in 2011, Snapchat is especially popular with teenagers and young adults, but many parents fear the app is the ideal tool for sharing lewd photos, or "sexting." Spiegel's fast-growing mobile app lets users send photos, videos and messages that disappear a few seconds after they are received. ![]() So our fundamental bet is that people actually love the real world: They want to be together in person with their friends.SAN FRANCISCO (CBS / AP) - Evan Spiegel dropped out of Stanford University in 2012, three classes shy of graduation, to move back to his father's house and work on Snapchat. Spiegel explained: “When we talk about AR, we’re trying to augment the real world around you. However, Snap’s technology is aimed at enhancing the real world. The “metaverse,” a buzzy tech industry term popularized by Facebook founder Mark Zuckberberg, describes a fully immersive digital universe. How is this different from the metaverse? This allows users to occupy the same virtual spaces and play the same games. There are two key new updates: The first is the Lens cloud that lets developers build AR experiences for users, while the second lets users using the same AR lens interact with one another. The latest Snap Spectacles, Spiegel said, “change the way you interact when you can walk around and use your hands, and see computing brought to life.” On Thursday, its shares rose 6.4% to $28.81. It has been increasingly pushing into hardware devices such as its Spectacles, the first version of which debuted in 2016.Ĭurrently, Snapchat has 332 million daily users globally, and has a market capitalization of $47 billion. The new products, unveiled on Thursday, are part of an effort by Snap, Snapchat’s parent company, to branch out from its roots as a social media service.
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