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Snap Is Said to Have Worked on a Drone Snap Is Said to Have Worked on a Drone
(about 7 hours later)
Snap has long been known as the maker of Snapchat, an app that sends disappearing messages, photographs and videos. But over the past few years, the company has repositioned itself as a modern-day camera company.Snap has long been known as the maker of Snapchat, an app that sends disappearing messages, photographs and videos. But over the past few years, the company has repositioned itself as a modern-day camera company.
One of the products that Snap has worked on to bolster that direction is a drone, according to three people briefed on the project who asked to remain anonymous because the details are confidential. A drone could help Snap’s users take overhead videos and photographs, and then feed that visual data to the company.One of the products that Snap has worked on to bolster that direction is a drone, according to three people briefed on the project who asked to remain anonymous because the details are confidential. A drone could help Snap’s users take overhead videos and photographs, and then feed that visual data to the company.
It is unclear when or if Snap’s drone would become available to consumers. Like many technology companies, Snap often works on experiments, many of which are killed or repurposed into other projects. A Snap spokeswoman declined to comment.It is unclear when or if Snap’s drone would become available to consumers. Like many technology companies, Snap often works on experiments, many of which are killed or repurposed into other projects. A Snap spokeswoman declined to comment.
The work on a drone builds on Snap’s unveiling last year of Spectacles, sunglasses that record short video clips. The company also changed its name to Snap from Snapchat to reflect that it intended to branch out into myriad products.The work on a drone builds on Snap’s unveiling last year of Spectacles, sunglasses that record short video clips. The company also changed its name to Snap from Snapchat to reflect that it intended to branch out into myriad products.
The drone gives a glimpse into what kind of future products Snap may be considering, which would affect the company’s growth. How the company plans to grow is on the minds of investors as Snap prepares to go public this week. Snap is expected to price its initial public offering on Wednesday and the stock is expected to trade on the New York Stock Exchange on Thursday, in what is set to be the biggest technology I.P.O. since the Chinese e-commerce company Alibaba in 2014. The drone gives a glimpse into what kind of future products Snap may be considering, which would affect the company’s growth. How the company plans to grow is on the minds of investors as Snap goes public this week. Snap priced its initial public offering on Wednesday and the stock is expected to trade on the New York Stock Exchange on Thursday, in what is set to be the biggest technology I.P.O. since the Chinese e-commerce company Alibaba in 2014.
Snap has said it planned to price its offering at $14 to $16 a share, which would value the company at as much as $22.2 billion. Snap set its I.P.O. pricing at $17 a share — higher than the expected range of $14 to $16 — valuing the company at $24 billion.
Getting more visual data such as photographs and video is important to Snap because it helps bolster people’s interactions with Snapchat. Communicating on Snapchat is a highly visual process, intended to create an intense engagement among people with the app. Snap said in its public offering prospectus that the average Snapchat user opened the app more than 18 times a day, and that more than 2.5 billion messages and images were sent each day with the app.Getting more visual data such as photographs and video is important to Snap because it helps bolster people’s interactions with Snapchat. Communicating on Snapchat is a highly visual process, intended to create an intense engagement among people with the app. Snap said in its public offering prospectus that the average Snapchat user opened the app more than 18 times a day, and that more than 2.5 billion messages and images were sent each day with the app.
Evan Spiegel, Snap’s chief executive, has been vocal about his company’s ambitions around cameras. In a video for investors about Snap’s public offering this month, Mr. Spiegel said cameras augmented the way a person communicates, rather than a person’s memory.Evan Spiegel, Snap’s chief executive, has been vocal about his company’s ambitions around cameras. In a video for investors about Snap’s public offering this month, Mr. Spiegel said cameras augmented the way a person communicates, rather than a person’s memory.
“We’re at the beginning of what cameras can do,” Mr. Spiegel told viewers of the video.“We’re at the beginning of what cameras can do,” Mr. Spiegel told viewers of the video.
When Spectacles appeared, Snap faced questions from critics about why it would enter the realm of hardware products. The product is designed to make taking videos a fun and seamless part of everyday life, which dovetails with the company’s goal of getting users to feed Snapchat a steady stream of images and videos.When Spectacles appeared, Snap faced questions from critics about why it would enter the realm of hardware products. The product is designed to make taking videos a fun and seamless part of everyday life, which dovetails with the company’s goal of getting users to feed Snapchat a steady stream of images and videos.
“We believe that reinventing the camera represents our greatest opportunity to improve the way that people live and communicate,” Snap said in its public offering prospectus. “Our products empower people to express themselves, live in the moment, learn about the world, and have fun together.”“We believe that reinventing the camera represents our greatest opportunity to improve the way that people live and communicate,” Snap said in its public offering prospectus. “Our products empower people to express themselves, live in the moment, learn about the world, and have fun together.”