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

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

Mar 4 2014, 2:33pm CST | by

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...

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20 weeks ago

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

Mar 4 2014, 2:33pm CST | by

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.

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Calling All Drones

Source: Forbes Business

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was to ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewa ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minist ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern state ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 mill ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Mini ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billi ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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