Snap stops growth of its Pixy selfie drone

Snapchat father or mother Snap Inc will cease future growth of its Pixy flying selfie drone, the Wall Street Journal reported on Thursday, citing individuals conversant in the matter. Pixy, which prices $230, will proceed to be bought in its present iteration, in keeping with the report. Also Read – Snapchat Plus reaches 1 million paying subscribers in simply six weeks

The news comes practically 4 months after the Santa Monica, California-based firm launched the pocket-sized digicam, which might fly a couple of ft above its consumer to take photographs and movies. Also Read – Facebook sees huge drop in teen utilization in final seven years: Report

Snap declined to touch upon the report. Also Read – Microsoft lays off workers from customer-focused R&D initiatives: Report

Rising prices and different financial woes have pressured firms to curb their advertising spend, hurting ad-reliant on-line firms reminiscent of Snap Inc, Facebook-parent Meta Platforms, Twitter Inc and Pinterest Inc.

Last month, Snap had warned of “incredibly challenging conditions” as a result of present financial turmoil and rising competitors after reporting disappointing outcomes.

The firm, which is reeling from privateness modifications made to Apple Inc’s (AAPL.O) iPhone, had additionally mentioned it will considerably sluggish hiring, spend money on its promoting enterprise and discover new sources of income as a part of its belt-tightening efforts.

— Reuters

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