“In the way that the flashing cursor became the starting point for most products on desktop computers, we believe that the camera screen will be the starting point for most products on smartphones,” it writes. (For the moment, Spectacles are sold exclusively in itinerant vending machines called Snapbots.) But the company’s vision of the future appears to be more expansive than that. In September, it announced the launch of Spectacles, camera-equipped sunglasses that allow you to record a ten-second video by tapping a button near your left eyebrow. Technically speaking, Snap is a camera company, and has been for a number of months. It appears in emphatic black lettering against Snapchat’s signature yellow: “Snap Inc. filing acknowledges, “We face significant competition in almost every aspect of our business.” But hidden in the opening pages of that filing is a more interesting declaration. Much of the tech-world buzz centered, as it has for months, on the question of the company’s future potential, given that larger and more established platforms such as Facebook and Instagram have already proved themselves adept at mimicking Snapchat’s features. When Snap goes public, in March, it may be valued at as much as twenty-five billion dollars. Securities and Exchange Commission, the Los Angeles-based company reported that it had achieved a sixfold increase in revenue in 2016, and that its hundred and fifty-eight million daily users were generating more than 2.5 billion Snaps per day. In the documentation that it sent to the U.S. Ever since Snapchat-sorry, Snap Inc.-filed for its initial public offering, last week, it has been all that anyone in Silicon Valley can talk about.
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