Snapchat has decided to stop the development of its Pixy flying selfie camera, in less than four months after the product had been announced to the public.
The CEO of Snap Inc, the company that created Snapchat, Mr. Evan Spiegel, recently told employees during a question and answer session that the effort to stop the development of the project was part of a strategy to take care of the company’s resources. .
Pixy is a small drone that can take off and land in the hands of the user. It was presented at the end of last April during Snap’s annual Partner Conference. with a starting price of USD$230. When it launched, Spiegel said that he planned to sell a limited quantity.
Snap will continue to sell the current version of Pixy, according to a person familiar with the matter. On Thursday morning, it was available for purchase online.
Snap is not far behind its competition after the recession
The company behind the social media platform Snapchat has been hit particularly hard in recent months due to disruptions in the digital advertising market, posting its slowest quarterly sales growth in years. Shares fell nearly 40% on that result.
The company also continues to grapple with changes that Manzana introduced into its privacy policy, denting Snap’s advertising business and that of other social media companies. Snap’s stock has plunged more than 80% in the last year.
Snap’s pullback to Pixy echoes actions other tech companies have taken to reallocate resources in recent weeks.
The parent company of Facebook, Goal, has decided to prioritize efforts around producer economics and move away from the Facebook News tab and the platform of newsletters called Bulletin, The Wall Street Journal reported last month.
The changes come as the company is making a broader shift to so-called metaversea more diverse form of Internet and a attempt to fend off competition short form video platform TikTok.
Secondly, microsoft recently laid off several employees of the Modern Life Experience group, that help develop software products for consumers, the magazine reported. The transportation company Lyft Inc.
Last month it announced that it was ending its tourist car rental program, which allowed consumers to rent its fleet of vehicles in the app.
Snap’s goal: launch high-performance hardware products
In 2016, Snapchat was renamed Snap Inc. It markets itself as a camera company And not just as a social media platform.
He released a pair of camera glasses, called Spectaclesfor USD$ 130.
Snap’s latest decision regarding Pixy drones follows further pressure from the company. Last month, they announced that would significantly reduce your hiring rate and that the template would be almost flat.
goal and Twitter have also said that they plan to increase the addition of employees again. Robinhood Markets said this month that it was cutting about 23% of its full-time staff.
