Snapchat founder and CEO Evan Spiegel recently shared a public “open letter” to staff, marking the company’s 14th anniversary and laying out a bold roadmap. Spiegel described 2025 as a “crucible moment” for Snap. Which is an inflection point that could determine whether it accelerates into the next era or stalls in the face of fierce competition. At its core, his strategy targets three pillars: advertising strength, user growth, and a leap into consumer AR hardware.
Spiegel set an ambitious target: reaching 1 billion monthly users and hitting $6 billion in revenue by the end of 2025. With Snapchat already nearing 932 million monthly users and on pace for $5.5 billion in sales, these are stretching goals. But achievable if Snap can break out of its recent slowdown.
To boost advertising revenue, Snap is refocusing on medium-sized advertisers, a segment previously underleveraged. Its revamped ad platform has already delivered strong results, including a 25% lift in app installs and an 18% uptick in unique conversions during early tests. These include featuring tools like tCPA v2 and App Power Pack.
Perhaps the most daring move in Spiegel’s plan is the push into AR hardware. Snap is preparing its first consumer-facing AR glasses for 2026. Designed to be thinner, lighter, and far more capable than past Spectacles models, the Specs are expected to tap into Snap’s robust AR ecosystem. With 400,000 developers already building AR lenses with AI features, the company is leveraging its creative base to power spatial computing.
Specs will also benefit from partnerships with Niantic, OpenAI, and Google, bringing AI-driven map integration and advanced lens capabilities to the forefront. Spiegel called this a “once-in-a-generation transformation toward human-centered computing.”
Despite the bold vision, profitability remains a challenge. Spiegel noted Q2 growth slowed to just 4% due to macro pressures. The pressure cooker reflects wider challenges facing mid-tier tech platforms squeezed between giants and agile challengers.
AR glasses offer a new frontier, but also financial pressure: the sector is notoriously expensive, and Snap has yet to prove it can translate hardware into mass-market demand. If Specs don’t live up to expectations, Snapchat’s path to further advertiser and user growth could narrow sharply.