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The Times report also stated the company was working on technology to take overhead videos and images. According to Snapchat's offering prospectus issued at the time of its initial public offering (IPO), an average Snapchat user opened the app more than 18 times a day and around 2.5 billion images and videos were sent each day using the app. Spectacles also represent the company's vision for hardware -- Snap, it seems, is aspiring to build on Snapchat's success by offering users unique ways to capture videos and images. Its namesake app was one of many photo/video-based apps, until it started offering a'Stories' feature – users could post videos that would stay on the app for 24 hours and then disappear.