- Lucy Nicholson/Reuters
Snap spent less than $1 million to acquire a tiny drone startup in Venice, according to a new report from BuzzFeed.
It’s not the first time the company has flirted with acquiring a drone startup, but the deal to acquire Ctrl Me Robotics means the company is furthering its push into hardware.
As part of the deal, Snap brought on Ctrl Me Robotics founder, Simon Saito Nielsen, and acquired some of its assets and equipment, according to Buzzfeed’s report.
The drone company was already winding down when the founder approached Snap about the possible acquisition, per the report. The company’s website no longer works, and its social media pages stopped posting in October, likely around the time of the acquisition. Snap declined to comment.
Snap’s already been rumored to be working on a drone or other types of hardware following the launch of its smart sunglasses, Spectacles.
While Snap’s smart sunglasses might not be ubiquitous, it’s turned into a million-dollar “modest” business for the self-described camera company.
During its earnings call, Snap said that it had brought in $8 million from the sale of Spectacles and that it is continuing to explore new technologies.
“It’s been really exciting to see people capture memories from their perspective,” CEO Evan Spiegel said at the time.