Over the Christmas weekend, Snap Inc., the parent
company of the Snapchat media platform, quietly acquired an Israel-based augmented reality startup for an estimated $30 million–$40
million.
As noted by TechCrunch,
Snapchat acquired Cimagine, a 4 year-old startup that allows consumers to instantly visualize products that they want to buy in
their intended location.
According to Cimagine's website, the company's technology gives consumers the ability to see how products will look and fit in
their own home through a smartphone. The technology also allows brick and mortar stores to create personalized showrooms and
provide customers with a more interactive experience.
The company's YouTube page shows how a consumer can browse a dining
table on Macy's Inc (NYSE: M)'s website and then view what
the table would look like in their own dining room through a tablet.
TechCrunch suggested that Snapchat can implement the newly acquired technology to enhance its marketing campaigns. On the other
hand, the acquisition could also be seen as a "talent grab" as Cimagine's four co-founders all specialize in computer vision and
image processing.
Snapchat can also begin building a development center in Israel, and follow the likes of many other high tech companies,
including Apple Inc. (NASDAQ: AAPL), which recently opened new research and development
offices in the high tech city of Herzlyia.
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