The Wall Street Journal reported Thursday, citing people familiar with the matter, that Snapchat parent Snap will halt future development of its Pixie flying selfie drone. According to the report, the price of Pixie is $ 230 (about Rs 18,300).
The news comes nearly four months after California-based company Santa Monica launched a pocket-sized Pixie camera that can fly a few feet above its user to take photos and videos.
Snap declined to comment. report good,
Rising costs and other economic woes have forced companies to curb their marketing spending, hurting ad-dependent online companies such as Snap, Facebook-parent Meta, Twitter and Pinterest.
Last month, Snap warned of “incredibly challenging conditions” due to the current economic turmoil and increased competition after reporting disappointing results.
The company, which has been grappling with privacy changes made to Apple’s iPhone, had also said it would slow down recruitment, invest in its advertising business and generate new revenue streams as part of its belt-tightening efforts. will find the source.
After launching the service as a new source of revenue in June, Snap said on Monday that Snapchat has reached 1 million subscribers thanks to the Premium subscription.
Social media companies including Snap, Twitter and Meta platforms, which all generate most revenue from selling digital ads, are facing a weak advertising market due to record-high inflation, allowing brands to reign in their marketing spend.
Shares of Snap fell 25 percent last month after disappointing second-quarter earnings, as it suffered from weaker advertising demand than Wall Street expected. Chief Executive Evan Spiegel said the company would work to accelerate revenue growth through new sources of revenue.
© Thomson Reuters 2022
