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Fortune
Fortune
Joshua Hong

Snap is betting $3.5 billion on AR glasses that businesses can use as CEO Evan Spiegel sees a post-smartphone era

Spiegel, Co-Founder & CEO, Snap Inc, speaks onstage during the SPECS Launch Keynote. (Credit: Photo by Joe Scarnici/Getty Images for SPECS)

For more than a decade, some of the world’s biggest technology companies have spent billions trying to put computers on people’s faces—to minimal success.

But Snap CEO Evan Spiegel revealed another bet on glasses in June, this time with a $2,195 pair of augmented-reality (AR) specs that he says could usher in a post-smartphone era.

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