Snap In-Talks For Drone Expansion (Again)
Social media giant Snap is reportedly in talks to acquire China-based drone-marker Zero Zero Robotics.
As originally reported by The Information, “People familiar with the company said it had been looking to raise money when it made contact with Snap.”
If true, it’d be the second acquisition the company has made in the drone space this year.
Snap acquired Ctrl Me Robotics earlier this year, scooping up the company’s equipment, assets and founder Simon Nielsen.
Zero Zero Robotics currenty sell a $500 Hover Camera Passport Drone through Apple Stores. Given the success that DJI have had with their Spark drone, it’s not hard to imagine Snap looking to tap into a similar niche.
However, “Zero Zero Robotics Chief Executive Meng Qiu Wang denied there was a deal in the works” while “Snap declined to comment.”
Ahead of its IPO earlier this year, Sources told The New York Times that Snap had been working on a drone project that would allow users to shoot photos and videos from a new perspective, similar to the company’s smart glasses.
Since then, the company has been dogged by rumors that it’s planning to expand into the drone photography space in a big way.