Snap Inc., the parent company of Snapchat, Spectacles and Bitmoji, has reportedly scooped up a Los Angeles-based drone company that was on the verge of closing its doors.
According to a report from BuzzFeed, Snap bought Ctrl Me Robotics for approximately $1 million. As part of the deal, Ctrl Me’s founder, Simon Saito Nielsen, as well as “some company assets and equipment” will join the Snap team.
Ctrl Me, whose website is currently unavailable, says on its social media accounts (which haven’t posted updates since last year) that it produces “software, hardware and performance drones” for “cinema, industrial and security companies.”
BuzzFeed notes that the company, founded in 2013, inked some seed funding back in 2014 but “never gained traction” in the drone market. Notably, Snap did not have a successful first quarter in terms of revenue and profit, the report says.
An update from Variety says the deal actually happened “late last year” but was not reported until now.