The popular social media platform Snapchat is reportedly looking to make a few acquisitions in the hardware department. Specifically, it seems Snapchat is interested in acquiring the latest and greatest in drone technology.
A few sources close to Snapchat’s M&A strategy department told reporters that Snapchat has been scanning various companies over the past year. These potential acquisitions have a wide range of specialties, including drones, virtual reality, augmented reality, and wearable cameras.
One of the most popular companies Snapchat has been in talks with is Lily Robotics. Lily Robotics is a drone company with its headquarters in Berkeley, California. So far there is no official deal between Snapchat and Lily Robotics, but many people in the social media industry believe it’s only a matter of time before a deal happens.
Another company Snapchat is interested in is Narrative, a wearable camera company in Sweden. Unfortunately for Snapchat, it appears talks with Narrative were unsuccessful in the short term.
Of course, Snapchat is no stranger to the acquisition market. Snapchat did acquire the company Vergence Labs in 2014 to help them with their smart sunglasses technology. Snapchat released their special spectacles this November in California. These glasses will allow users to take pictures or videos and send them directly to the social media site directly from the glasses.
Experts believe Snapchat is so interested in drone technology right now because it wants to find different ways for users to take selfies of themselves. Social media analysts think SnapChat wants to use drone technology to track a person while doing action sports and immediately upload videos to SnapChat.
Of course, this is all speculation right now, but drone technology does seem to be in SnapChat’s future. SnapChat is also expected to become a publicly traded company on Wall Street next year. Investors will keep a close eye on SnapChat’s acquisitions as its estimated $25 billion IPO draws nearer.