Snap’s most popular product has been Snapchat, which is a craze among youngsters with features like self-deleting messages, photos and videos. However, if the reports are to be believed, the company is trying to add new revenue sources and has worked to make drones. According to The New York Times, these flying machines will take pictures and videos.
Drones to fetch more pictures and videos
During an investor conference last month, CEO Evan Spiegel talked about Snapchat’s wish to transform itself into a camera company and applauded the camera’s ability in the area of communication. Snap wants more data, pictures and videos simply because it helps users connect better through the Snapchat app. Snapchat’s unique selling proposition has been its visual content. In its public offering prospectus, the company mentioned that on average, a user checks their Snapchat account more than 18 times a day, and the platform handles more than 2.5 billion messages in the form of videos and pictures daily.
Whether Snap is interested in capitalizing on these drones by selling them to consumers and cementing its position as a hardware company is not yet known. The project is believed to be in the nascent stages.
Does a drone make sense for Snap?
Last year when the company came up with camera-fitted spectacles, the quality of the camera was not a priority, as the company was more engrossed in changing the way pictures are taken around users.
Companies like GoPro and DJI are already coming up with better cameras which take sharper pictures and are more efficient. Although a new enhanced camera with powerful technology will no doubt benefit RC vehicle and professional drone camera operators, it would not attract people who just want to take pictures for fun. So Snapchat would have the upper hand here if it releases a mini drone that’s easy to fly and shoot around with, notes The Next Web.
All boils down to IPO
Though Snapchat is heavily popular among teens, the company has yet to post profits. The fate of Snap is tied to its IPO, which will be held on Wednesday.
Snap’s IPO is the most-eyed tech offering since Alibaba, and whether investors acknowledge the company’s potential or not will be reflected in subscriptions. About 200 million shares of the company will be priced between $14 and $16 per share.