Snapchat acquires Bitmoji app for over USD 100 mln

Nieuws Mobiel Wereld 25 MAR 2016
Snapchat acquires Bitmoji app for over USD 100 mln

Messaging startup Snapchat has agreed to acquire Bitstrips, the Canada-based maker of the virtual-sticker application Bitmoji, for over USD 100 million in cash and stock, writes the Wall Street Journal citing two people familiar with the deal. The Bitmoji app enables end-users to create customised cartoon avatars. 

SnapChat's previous acquisitions include eyeglass maker Vergence Labs for USD 15 million, video-chat service AddLive for USD 30 million, and QR-scanning app Scan for USD 50 million, according to Michael Lynton, a Sony executive and Snapchat director. These were disclosed in his emails when they were released by hackers who broke into Sony's computers. Snapchat recently raised USD 175 million in fresh funding from Fidelity Investments, valuing the company at USD 16 billion.

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Mobiel,  Internet

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Snapchat

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Wereld

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Messaging, Start-up, IT - applications, Portals / social media, M&A buyouts & divestments

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