Snapchat has quietly acquired an Israeli startup for a reported $30 million to $40 million
Tech writer Connie Loizos reports on the apparent acquisition of Israeli augmented reality company Cimagine by Snapchat and what this could mean for the future of the social media giant.This article originally appeared on TechCrunch
Snapchat sewed up its first acquisition in Israel this week, according to the outlet Calcalist News. It acquired four-year-old Cimagine, whose augmented reality platform lets consumers instantly visualize products they want to buy in their intended location, paying what Calcalist says was between $30 million and $40 million.
According to its LinkedIn page, Cimagine currently works with brands like Jerome’s, a furniture store franchise in Southern California; the U.K.-based digital retailer Shop Direct; and the global giant Coca-Cola...