Don't Sleep on Snapchat's Augmented Reality Ambitions

Augmented reality (AR) could become something we use and interact with on a daily basis in the very near future, especially if a company finds a way to make it consumer-friendly. Microsoft's (NASDAQ: MSFT) Hololens and the well-funded start-up Magic Leap are garnering most of the attention in augmented reality these days because they offer headsets that allow people to enter an augmented world. But they aren't the only companies worth watching in the space.

Every new Apple iPhone and most Alphabet Android devices are equipped with powerful AR technology that developers can use to create an experience that augments the images on the smartphone's screen. Nintendo's Pokemon Go was the first widespread AR product to use smartphone AR, and that showed millions of users the power of the technology.

It's not open and public about what it's doing as AR, but Snapchat (NYSE: SNAP) has been a quietly powerful player in the industry. And now it's reportedly planning to raise $1 billion -- in part to develop even more AR technology. This may quietly be a big move in technology.

Source Fool.com