NEW YORK (TheStreet) --Snapchat Spectacles are officially available Monday in NYC. The Snapchat parent company Snap Inc. has set up its Spectacles vending machine unit on 59th Street in Manhattan. The machine will stay in the city until New Year's Eve and is currently the only way to purchase the glasses, which cost $130.
"This is a genius marketing gimmick no matter what else it is," founding partner of the venture capital firm Elevation Partners Roger McNamee said on CNBC's "Squawk Alley" today. "It is an extraordinary marketing."
McNamee has nothing but admiration for Snap as it has transformed itself into a social media icon, accessed by countless amounts of people worldwide.
"When they turned down the offer from Facebook (FB) several years ago, like many people I thought that was ill-advised and would result in a lot of tears," he said.
Facebook offered to purchase Snap for $3 billion in 2013. Snap, according to confidential filings for an IPO last week, values itself $25 billion or more.
However, since he says the company has "captured something" that separates it from all other technology companies.
"I don't know where it's going to lead, but they have the magic right now," McNamee stated.