Facebook Follows Amazon, Google Into Drones With $60 Million Purchase

Mar 4 2014, 2:33pm CST | by

Facebook Follows Amazon, Google Into Drones With $60 Million Purchase
Photo Credit: Forbes Business

Time to hop on the drone bandwagon — before it flies off without you.

Facebook, in a deal first reported by TechCrunch and CNBC, is buying drone maker Titan Aerospace for $60 million. It may not be anywhere close to the $19 billion Mark Zuckerberg spent on messaging service WhatsApp, but it could be another important piece in Facebook’s mission to bring the Internet (and therefore Facebook) to the developing world.

Facebook follows Amazon and Google into the robotics fray with this purchase. Amazon, who bought Kiva Systems for $775 million  in 2012 to put robots in its distribution centers, debuted its “Prime Air” service to deliver products by drone last December. Google bought robotics firm Boston Dynamics around the same time and has been refining its self-driving car technology.

Each tech giant sees robotics as the wave of the future, although the companies are using the technology to varying ends. Facebook’s goal could be to provide wireless Internet to under-served parts of the globe. Titan Aerospace makes solar-powered drones that can fly for as long as five years at near-orbital heights. These drones can relay communications and take on other jobs usually performed by satellites, at a fraction of the cost.

While the purchase signals possible growth potential for Facebook (the social network’s stock is up 1.6% on the day), it also looks good for other independent robotics companies that could be snapped up in future deals. iRobot stock, for example, is up 2.99% on the day, and over 25% year to date.

Follow Brian on Facebook and Twitter.

Calling All Drones

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Early deafness diagnosis improves teenagers' reading skills
London, Nov 26 (IANS) Early detection of deafness in babies is linked to better reading skills later in their lives, says a new research.
 
 
First Italian Ebola patient undergoes experimental treatment
Rome, Nov 26 (IANS) An Italian doctor, who was flown home after testing positive for the Ebola virus in Sierra Leone, is being treated with an experimental medicine here, media reported.
 
 
How memory loss is inherited
New York, Nov 26 (IANS) In a bid to better understand inheritance of memory loss, scientists have now discovered two common gene variants that are believed to be associated with memory performance.
 
 
Feeling wealthy makes you conservative
New York, Nov 26 (IANS) People who feel wealthier are more likely to be politically conservative and oppose policies supporting wealth redistribution, shows a new research.
 
 
 

Latest from the Network

Collective efforts more important in Saarc region: Modi
Kathmandu, Nov 26 (IANS) Nowhere in the world are collective efforts more important than in south Asia, Prime Minister Narendra Modi said at the South Asian Association for Regional Cooperation (Saarc) Summit here...
Read more on Politics Balla
 
Modi speaks of Mumbai attack anniversary at Saarc
Kathmandu, Nov 26 (IANS) Prime Minister Narendra Modi Wednesday recalled the horror of the 2008 Mumbai terror attack at the Saarc Summit and stressed on the need to combat "terrorism and trans-national crimes". "Today...
Read more on Politics Balla
 
Money transactions via Bitcoin not safe
London, Nov 26 (IANS) Researchers have shown that money transactions via Bitcoin network do not protect user's IP address and it can be linked to the user's transactions in real-time. The team demonstrated that only a...
Read more on Business Balla
 
India can connect Saarc students through e-libraries: Modi
Kathmandu, Nov 26 (IANS) Prime Minister Narendra Modi Wednesday said India is prepared to connect students in the south Asian region through e-libraries. "IT has removed all barriers to quality education. India is...
Read more on Politics Balla
 
Court orders Maradona to pay for slander victim's legal fees
Buenos Aires, Nov 26 (IANS) Famed Argentine ex-footballer Diego Maradona must pay the legal expenses of Shanghai Shenhua team coach Sergio Batista for alleging he took bribes from national players, an Argentine court...
Read more on Sport Balla
 
Life-saving bacteria found in turkeys
New York, Nov 26 (IANS) The biological machinery needed to produce a potentially life-saving antibiotic is found in turkeys, researchers have found. "Our research group is certainly thankful for turkeys. The 'good...
Read more on Business Balla
 
Taylor Swift values Lorde friendship
Taylor Swift says Lorde and Lena Dunham as the ''most important'' people in her life at the moment. The 24-year-old musician really appreciates the friendship of the pair and insists it's great to have peers you like...
Read more on Celebrity Balla
 
Susan Boyle: Catholic upbringing has made me single
Susan Boyle blames her single status on her Catholic parents' ''coded behaviour''. The 'Wild Horses' singer has revealed her mother and father's strong Christian beliefs have affected the way she approaches romantic...
Read more on Celebrity Balla
 
Black Friday looks good for Kohl’s
Kohl’s has released their Black Friday 2014 advertisement flier. The big draw to Kohl’s for this year’s version of Black Friday is that the company will have over 500 deals in store. Kohl’s will start their Black...
Read more on Black Friday Countdown
 
Jennifer Aniston felt 'uncomfortable' filming Horrible Bosses 2
Jennifer Aniston felt ''uncomfortable'' filming scenes for 'Horrible Bosses 2'. The 45-year-old actress has admitted to feeling a little uncomfortable as she filmed some sexually provocative scenes with some extras for...
Read more on Movie Balla