Snap Inc, the parent company for Snapchat, is reportedly in talks to acquire Chinese drone maker Zero Zero Robotics (零零无限) for between $150 and $200 million, according to our Chinese language sister site. Previous rumors of domestic and international takeovers of Zero Zero Robotics have been denied by its founder and CEO, Wang Mengqiu and Snap has refused to comment on this recent speculation.
Zero Zero Robotic’s drone, sold exclusively by Apple (Image credit: Apple)
The acquisition would develop Snap’s hardware division even further after its previous product launches of “Spectacles,” the Snapchat-enabled glasses with built-in cameras, originally sold in vending machines. The sale would also be a continuation of Snap’s interest in consumer-grade selfie drones after acquiring Ctrl Me Robotics in May. Ctrl Me Robotics makes hardware and software for the film industry and rumors have circulated that Snap may develop drones in-house as a way to keep a lead over competitors such as Instagram and Facebook.
Beijing-based Zero Zero makes the Hover Camera Passport Drone, an autonomous, lightweight, four-propeller, folding HD drone that uses facial recognition to track the user. The product is sold exclusively via Apple for $500.