The latest acquisition by Snap Inc of a drone manufacturing company is the first step to enter the hardware industry. Snap will no longer remain confined to the internet.
The newly acquired company is called Ctrl Me Robotics, based in California. Buzzfeed reveals the price paid by Snap was not even $1 million for acquiring the drone manufacturer. The founder Simon Saito Nielsen will be joining Snap; however, his new role in the company still remains unannounced.
Snap rebranded itself as a camera manufacturer since the launch of its Spectacles previous year, and Ctrl Me Robotics started by attaching cameras with drones, as per Variety. Henceforth, a Snap-branded camera drone is likely going to be available in the market soon.
It has been a different type of acquisition
It seems to me that the nature of this acquisition is about sharing knowledge and expertise instead of actual technology. Nonetheless, the latest move by Snap will diversify its revenue stream for competing against Facebook and Google.
Ctrl Me Robotics was founded by Nielsen in 2013, mainly for covering aerial footage for third party studios using its drones; moreover, the company intends to design newer and hi-tech gadgets for movies soon.
What must Spiegel do for Snap’s success?
Spiegel must introduce more innovation for regaining the lost confidence of its investors, ever since its drop in the stock exchange.
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