Date:
December 12, 2024
Zero Zero Robotics is Know for Its Hover Camera
Snapchat is trying to come up with the new tactics to allure the more users after WhatsApp gone a hit by cloning its story feature. This quarterly report isn't satisfying for the Snapchat and the company knows the key to make a comeback in the market. Recently the company has acquired a mapping startup named Zenly.
This time the American company is trying to go through the hardware feature and in talks to buy drone maker Zero Zero Robotics. The Zero Zero Robotics is a tech startup specializes in making drones for the selfie purpose. The acquisition is the drone maker by the Snapchat is expected to close between $150-$200 million if completed. A couple of months back the Snapchat bought the Zenly for $250 million, which is the highest amount spent by the company to date. However, Neither the Snapchat nor the Zero Zero Robotics has given anything about the deal.
This is not the first time the Snapchat is trying to take a drone manufacturer in the squad. Earlier this year The Snapchat tries to buy the drone manufacturer Lily and it ends with the unsuccessful deal and the shutdown of the company due to financial issue.
The Zero Zero Robotics is best known for its Hover Drone camera which is built to take the aerial selfie. The drone was launched in October last year and the Apple sold it for $500 through both online channels and retail stores.
Initially, the company was looking for the investment of about $25 million, but it seems Snapchat feels no danger in buying it in more than that. The Chinese drone maker at first contacted the Snapchat for the potential investment which turns in the presumptive acquisition.
Investing in the selfie drone firm is quite a good opportunity for the Snapchat to enter into the hardware competition as its share went down from $17 to $13.10 since March. Snapchat also tried to build the selfie drone by itself, but eventually, the program shuts down and the company decided to go outside to the specialist.
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