Pulse.com.gh logo
Go


Snapchat Social network 'acquires' Bitmoji for $100million

This new acquisition will enable Snapchat to enrich its service to its more than 100 million users, and comes right after the company recently raised an additional $175 million.

  • Published: , Refreshed:
Snapchat continues to enhance its service. play

Snapchat continues to enhance its service.

Snapchat continues to enhance its service.

The social network for sharing photos and "ephemeral" videos has acquired the Canadian company Bitstrips, the company behind emoji creation app Bitmoji, reports the Wall Street Journal . The American newspaper quotes a transaction price of $100 million.

Evans Spiegel, CEO Snapchat play

Evans Spiegel, CEO Snapchat

 

READ ALSO: 8 hidden Snapchat tricks you should know about

Headquartered in Toronto, Bitstrips publishes the Bitmoji application that allows users to create custom emoji.

These images can then be shared via social networks. The app is available on both iOS and Android or a desktop computer via an extension for the Google Chrome browser.

Bitstrips raised $11 million raised before acquisition by Snapchat

Another application of the company allows users to create images around comics. The service also allows users to superimpose on photos avatars a bubble including a comment in order to talk about the characters.

The application is free to download, but the company makes money through purchases "in app". To finance its development, Bitstrips had already raised funds. In the past, the company has completed several funding rounds comprising a total of 11 million dollars from private investors. Among them, in particular includes Horizons Ventures and Kleiner Perkins Caufield & Byers.

This new acquisition will enable Snapchat to enrich its service to its more than 100 million users, and comes right after the company recently raised an additional $175 million. Other players are also interested in applications that allow photo/video customizations.

Facebook earlier this month, acquired MSQRD, an app that allows you to add humorous animations to video.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Incompetence Otabil wasn't qualified to be Capital Bank Board Chairman...bullet
3 Breaking Otabil finally breaks silence on banking controversiesbullet
4 Salaries In 2018 Here are the dates public workers will be paid in...bullet
5 Education Top 5 private high schools in Ghana according to WAECbullet
6 Banking In Ghana Stranded customers of First Allied Savings &...bullet
7 Nana Appiah Mensah Menzgold CEO invited by EOCObullet
8 Nana Appiah Mensah Menzgold boss apologises to BoG after...bullet
9 Collapsed Banks Here are the auditing firms for the 7...bullet
10 Banks Collapse Gov’t to take action against those...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Former Capital Bank staff grills pork for survivalbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
7 Support Finance minister buys Kantanka carbullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet
10 Video We are determined to move Ghana beyond aid - Bawumiabullet

Business