Messaging platform Snapchat is once again making waves in the tech community following rumors that the company is working to broaden its market by making hardware devices. Snapchat is allegedly working on its own pair of smart glasses. Big tech companies like Google and Microsoft have been working on a similar device for quite some time already, but are yet to release a viable product.

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Snapchat is currently valued at about $16 billion and the company is looking to diversify its services by not only focusing on the software side of things, but also working on hardware products.

Snapchat is reported on a hiring spree and has been able to acquire talents from major augmented reality projects like Microsoft's HoloLens, PTC's Vuforia and eye tracking tech company Eyefluence.

Snapchat showed interest in entering the augmented reality market during the time when Google Glass was the talk of the tech industry. At around that time, Snapchat acquired Vengeance Labs for $15 million, a company that produces pair of classes equipped with a camera. Additionally, Snapchat made another major acquisition after it bought the QR code scanning company Scan.me for $50 million. Technologies created by Scan.me were later used in the messaging platform's Snaptags feature.

There are rumors that Snapchat is planning to build a set of glasses that allows users to easily capture and share photos and videos. According to CNet, Snapchat has already received a patent that allows users to easily record multimedia files on their smartphones.

Perhaps the biggest question now is whether Snapchat is planning to create a hardware of its own or is the company simply working to make its platform adapt to these future technologies.

Tagssnapchat, SnapChat News, Snapchat glass, Snapchat virtual reality, Snapchat augmented reality, Snapchat hardware, Snapchat smart wearable glass, SnapChat Updates