Unmanned Aerial Vehicle The latest drone news
Snapchat
Snap, the mother or father firm of social media platform Snapchat, is in negotiations with Chinese drone producer Zero Zero Robotics, maker of the Hover Camera Passport selfie drone.
The Information experiences that Snap is contemplating buying Zero Zero for $150-200 million, upping their drone recreation significantly from the acquisition of Cntrl Me Robotics earlier this yr for a mere $1 million.
Rumors that Snap was engaged on a drone have been circling because the starting of the yr, as the corporate continues to attempt to develop into client merchandise from its social media roots. The buy of Zero Zero Robotics may very well be a serious step ahead: the corporate’s Hover Camera Passport drone was launched in October, and sells for $500 completely at Apple shops.
The Hover is a light-weight selfie drone, with utterly enclosed blades that permit it to be grabbed from the air. It folds right into a compact guide form for carrying, and it weighs lower than 250 grams. The firm says that it requires no flight abilities to fly, capturing 360 selfies because the drone circles round you. With the acquisition of Zero Zero, Snap may very well be indicating that they’ve given up on making an attempt to develop their very own product in favor of adapting current expertise.
Drones would develop Snap’s product line past the wearable digicam Spectacles product. Spectacles obtained nice buzz when launched, however a report by CNBC this spring mentioned the product was “irrelevant” to Snap’s backside line because of modest gross sales of the $130 glasses. Company leaders defended the product, saying that it was an experimental line that was profitable in its introduction.
Snap is below stress from traders to indicate higher earnings because the inventory value has fallen from its IPO value of $17 to a present worth of round $12.75. The inventory has been a goal for quick sellers who really feel that the corporate’s $20 billion valuation was exaggerated.
