According to TechCrunch, Snapchat parent company Snap invested in a 360-degree 3D camera company. In addition, according to "The New York Times" reported that Snap is also engaged in drone business, and TechCrunch said that the news has been confirmed by sources.
These two projects will allow Snapchat users to capture and share more pictures and videos, including 360-degree pictures and videos, through their mobile phones. Obviously these two projects are still under development and should not be a Spectacles product similar to Snap's sunglasses. Last year it was reported that Snap had attempted to acquire Lily, a drone company, but the company eventually went bankrupt.
Snap will be listed today, and Snap needs to show investors the potential for profitability. Snap lost nearly $500 million last year, and user growth has begun to slow. So, hardware products like 360-degree cameras and drones may be Snap’s new move in profitability.
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