Holding Company Snapchat acquired Startup Drone Maker

Snapchat's parent company, Snap Inc., will acquire Ctrl Me Robotics, a startup of drone based in Los Angeles, United States (US).

The acquisition process took place shortly after the company announced its Initial Public Offering (IPO) on Thursday, March 2, 2017, local time.


Proclaimed earlier, Snap Inc. closed its first day of trading on the New York Stock Exchange at US $ 24.48 (US $1 per share), with a market capitalization of US $ 28.3 billion.

As a deal, Snap will recruit founder Ctrl Me Robotics, Simon Saito Nielsen, and acquire the company's assets and devices in the near future. Thus was launched Business Insider via BuzzFeed.

Not explained in detail about why Snapchat acquired Ctrl Me Robotics. However, if you look at the company's track record, Ctrl Me Robotics barely operates. The site is inaccessible, as is the social media page.

Snap Inc. is rumored to be working on drones and other types of devices, following the success of smart glasses, Spectacles. The move is suspected to be a strategy Snap Inc. to not only Busy thinking about something in the realm of social media.