Snap Reportedly Building A Drone As It Expands From Snapchat Into Consumer Electronics
Snap, formerly known as Snapchat, is best known for its popular app that allows users to take pictures and videos that are viewable by recipients for up to 10 seconds. It became a huge hit and is still being widely used, though Snap apparently has other aspirations that include hardware. Hot the heels of announcing special eye-wear for Snapchat, word on the web is that Snap wants to build a drone.
That information comes courtesy of three people who told The New York Times they've been briefed on the matter, but asked to remain anonymous because the details are not supposed to be made public. According to the sources, Snap's intention is to further solidify itself as a camera company. What does that have to do with drones? The idea is to help users take photographs and record video from up above.
It is not clear if this project will become a consumer product. As other companies are known to do, Snap is kicking around different ideas, some of which end up being nixed and others molded into something else. Naturally, no officials from Snap have any comment on the matter.
If nothing else, even just considering drones gives observers a glimpse into Snap's mindset. While its app has proven immensely popular, there was some question as to how Snap would ultimately live up to its multi-billion dollar valuation and make investors money. Getting into hardware could be one way.
Along those lines, Snap is preparing for its initial public offering (IPO) today. The company planned to price its offering at $14 to $16 per share, which would value the company as high as $22.2 billion. There is some chatter on the web that its IPO could be even higher.
That information comes courtesy of three people who told The New York Times they've been briefed on the matter, but asked to remain anonymous because the details are not supposed to be made public. According to the sources, Snap's intention is to further solidify itself as a camera company. What does that have to do with drones? The idea is to help users take photographs and record video from up above.
It is not clear if this project will become a consumer product. As other companies are known to do, Snap is kicking around different ideas, some of which end up being nixed and others molded into something else. Naturally, no officials from Snap have any comment on the matter.
If nothing else, even just considering drones gives observers a glimpse into Snap's mindset. While its app has proven immensely popular, there was some question as to how Snap would ultimately live up to its multi-billion dollar valuation and make investors money. Getting into hardware could be one way.
Along those lines, Snap is preparing for its initial public offering (IPO) today. The company planned to price its offering at $14 to $16 per share, which would value the company as high as $22.2 billion. There is some chatter on the web that its IPO could be even higher.
