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· Posted on
February 21, 2024

Aussie drone operator Swoop Aero just turned down a $100 mill buyout and tbh, we love that confidence

Aussie drone company Swoop Aero turned down a $100 million buy-out offer, 'cos it reckons the drone market is just getting started.

What's the key learning?

  • Swoop Aero is an Aussie drone company founded back in 2017
  • A US investor offered Swoop $100 million to take it over - but Swoop declined
  • The global market for drone transportation and logistics is estimated to reach US$45 billion by 2027, thanks to tech evolving and finding more use cases for drones.

👉 Background: Swoop Aero is an Aussie company that was founded back in 2017. It operates a fleet of drones for first and last-mile logistics globally.

👉 What happened: This crew were in the middle of some capital raising when a US investor came a-knockin', offering to buy out the company for $100 million bucks.

👉 What else: Swoop decided the deal wasn't for them. They said the drone market is too big and full of opportunities to stop short and sell out 😮. Talk about a power move!

What's the key learning?

💡While drones have been around for a while, they haven't found it easy to break into the mainstream. However, the market has experienced a uge spike in growth recently.

💡In 2020, the global market for drone transportation and logistics was estimated to be US$12 billion. Sounds big already, but that figure's expected to be more like US$45 billion by 2027!

💡The rapid growth is thanks to tech evolving and finding more use cases for drones. And, the US has begun offering exemptions for companies to operate drones for new purposes (construction, insurance, agriculture etc). Long live the drones!

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