Monday December 26, 2016

Snapchat Buying Augmented Reality Start-Up

At least now we know what Snapchat is doing with some of the $1.8 billion it raised earlier this year from investors, the company just bought an augmented reality startup in Israel. God only knows what the company is going to use AR for.

Messaging app Snapchat is buying Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million, marking Snapchat's first acquisition in Israel, the Calcalist financial daily reported on Sunday. Cimagine developed True Marketless Augmented Reality آ– technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their home, on their mobile devices, at the click of a button.

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