Snap wants to convince investors that Spectacles are not just a publicity stunt, but rather a viable form of revenue diversification.
The glasses, which allow people to take snaps for Snapchat of what their eyes see as opposed to what their phones see, come coral, teal, and black, and deliver in two to four weeks, according to Snap. Spectacles were first introduced last September, though many thought the glasses would never reach mass-market.
Snap revealed it hopes to raise $3 billion through its IPO, which would give the company a valuation of at least $20 billion. Snapchat, the company’s flagship product, has 158 million daily users and 2.5 billion snaps are created daily. A typical user opens the app 18 times per day and uses it for close to half an hour in total per day.