Snap Labs and flying cameras
Snap Inc., based in Venice, California, has a division of its company called Snap Labs, which is dedicated to working on secretive projects, including wearable cameras, facial recognition and 3D scanning technology, Reuters reported.
Snap has also been in conversations with drone companies. Snap was interested in an acquisition with Lily Robotics, Business Insider reported in December, citing sources familiar with the matter.
Lily Robotics offers a drone that tracks and follows its owners and simultaneously shoots video, creating a hands-free recording experience similar to Spectacles.
What takes place inside Snap Labs is unknown to most of the company, even top executives, according to a person familiar with the matter speaking to Mashable.
But it is clear that some type of gadgets are being built — or at least the knowledge for such endeavors are within the walls.
Over the last year, Snapchat has hired dozens of hardware and mechanical engineers, who worked at Apple, Google, GoPro, Motorola and Qualcomm. Marketing firm Mediakix recently envisioned what a Snap Inc. smartphone might look like, given those new hires.
The company is expected to price its stock this week, before it begins trading on the New York Stock Exchange. The IPO is expected to value Snap at more than $20 billion.