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Snap Inc acquired a drone startup Ctrl Me Robotics

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Tinuku ~ Snap Inc. acquired the drone company Ctrl Me Robotics. The Snap Company behind the development of Snapchat and Spectacles will expand its business to build drones by acquiring a Los Angeles-based company Ctrl Me Robotics. This deal is rumored to have been running since last year.

Tinuku Snap Inc acquired a drone startup Ctrl Me Robotics

It is estimated that Snap Inc. acquired Ctrl Me Robotics for less than US$1 million. This deal allows Snap to own the assets of Simon Nielsen, founder of Ctrl Me Robotics, devices and patents.

Ctrl Me Robotics declared the company to build a special drone, focusing on the aircraft carrying a camera for Hollywood movie studio that was released in 2014. But until now it is unclear to what extent the company's drones were built.

Snap is known to continue to develop themselves in producing equipment. In 2016 they had talks with Lily Robotics who is now dead and a camera company other.

Various steps were taken to build a Snap business to make hardware and change itself to become a camera company. Some say the company is projecting Snap to pivot to save the company.

Snap became a public company in March 2017 after conducting a intial public offering (IPO) of US$30 billion. This is where the growth of the company looks slow and still far from profit.

Surprisingly the company has US$150 million in revenue in the first quarter of 2017, but only US$8 million came from Spectacles.

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