Snap Inc. to stop development of Pixy selfie drone

(Image Courtesy: Snap Inc.)

According to a new report, Snapchat creators Snap Inc. are giving up on their Pixy Selfie mini drone, less than four months after it was launched.

The report by publication WSJ cites insiders familiar with the matter, who said that CEO Evan Spiegel told staff in a question and answer session, that the company would halt further development on the project.

This is reportedly part of a broader effort to streamline company resources. The Pixy is a mini drone that can take off and land in the user's hand without any assistance.

The idea was to use it as an impromptu camera person for selfies during situations where there is no else available to take a photo. The niche product was always meant to be sold in limited quantities, and launched with a sticker price of $230.

Snap Inc. will continue to sell the drone in its current iteration "while supplies last," which makes it seem like it probably won't get restocked.

Snapchat+, Snap Inc.'s premium Snapchat subscription recently managed to round up over one million paying subscribers, in a time when the company is looking to diversify its revenue.

The subscription allows members access to experimental and exclusive, pre-release features for a monthly fee. In India, that fee is Rs 49 per month.

Members also get access to exclusive features like Priority Story Replies, Post View Emoji, new backgrounds, and new custom app icons.