SNAP ▼ -3.8% - Snap Inc. $SNAP IS PUTTING SERIOUS RESOURCES BEHIND ITS $2,195 SPECS: WSJ Snap assigned about 500 employees to the smartglasses unit and planned to raise outside funding, but the funding never came. The company says it doesn’t need outside capital. Specs launch Sept. 16. Snap shares declined 3.8% following a Wall Street Journal report detailing the company's substantial commitment to its Spectacles smartglasses product, including roughly 500 dedicated employees and an initial plan to raise external funding that ultimately never materialized. The report's emphasis on Snap's failed fundraising attempt for the hardware unit—despite the company's assertion that it no longer needs outside capital—may have raised investor concerns about the project's financial viability and internal resource allocation ahead of the Spectacles' September 16 launch. 01-SEP-2026 08:07 PM ET