Snapchat has decided to stop development of its Pixy flying selfie camera Less than four months after the product is announced to the public.

The CEO of Snap Inc., the company behind Snapchat, Mr. Evan Spiegel, recently told employees during a question-and-answer session that the effort to halt development of the project is part of the company’s resource management strategy.

Pixy is a small drone that can take off and land in the user’s hand. It was presented at Snap’s annual partner conference late last April. The starting price is 230 USD. When it launched, Spiegel said it intended to sell in limited quantities.

Snap will continue to sell the current version of Pixy, according to a person familiar with the matter. As of Thursday morning, it was available for purchase online.

Snap hasn’t fallen behind its competition since the recession

The company behind the social media platform Snapchat It has been hit particularly hard in recent months by a disruption in the digital advertising market, posting its slowest quarterly sales growth in years. Shares fell by almost 40% on this result.

The company also continues to struggle changes that Manzana included a privacy policy that violates Snap’s advertising business and other social media companies. Snap shares have fallen more than 80% in the past year.

Snap’s push back on Pixy echoes moves other tech companies have made to reallocate resources in recent weeks.

parent company Facebook, purpose, Decided to prioritize efforts around the maker economy and move away from the Facebook News tab and platform Bulletin called Bulletin, The Wall Street Journal reported on this last month.

The changes come as the company moves more broadly into so-called MetaverseA more diverse form Internet and Trying to avoid competition A short form video platform TikTok.

secondly, Microsoft Several employees of the Modern Life Experience group were recently fired, which helps develop software products for users, the magazine reported. Transportation company Lyft Inc.

Last month, it announced it was ending its tour car rental program, which allowed customers to rent a fleet of vehicles. application.

Snap’s goal: to release high-quality hardware products

In 2016, Snapchat was renamed Snap Inc. It advertises itself as a camera company And not just as a social media platform.

He took out his camera glasses and called glassesfor $130.

Snap’s latest decision regarding Pixy drones will put further pressure on the company. They announced this last month will significantly reduce your recruitment rate And that the template would be almost flat.

purpose and Twitter They said that too They still plan to add employees. Robinhood Markets said this month it was cutting about 23% of its full-time workforce.

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