coiski

Snapchat to Buy Selfie-Taking Drone Company Zero Zero After a disappointing Q2 report, will this buyout help the struggling company stay ahead?

Snapchat is the king of selfies and the first app to popularize disappearing content. Now, the popular social media platform is seeking to take over the airspace with the purchase of a selfie-taking drone company.

According to recent reports, China-based Zero Zero Robotics is soon to be acquired by Snap Inc. Zero Zero initially reached out to the social media site in hopes for funding, but now it won’t be long before the two companies are one and the same. Zero Zero is best known for its selfie drone, theย Hover Camera Passport.

The drone uses facial recognition to take photos of users from the air, something that Snapchat could easily market for its own good. Snap Inc. was supposedly in the process of making its own drone, following up its recent Snapchat Spectacles hardware development. But the purchase of a successful drone company may be just what Snap Inc. needs to stay ahead of the game.

Snap Inc. is still in trouble after its Q2 earnings report released Thursday indicated slower growth and lower revenue than Q1. Spectacles generated approximately $8 million in sales, and the verdict is still out on whether drones will help or hurt the company’s end game.

Joe R. Wells

Currently attending college in pursuit of a degree in Business Administration and a minor in Theology. I collect sneakers and go on mission trips with my church every summer.

Subscribe

Media Kit

Download our media kit, and find out how you can partner with coiski to help you tell your story.