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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.

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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.

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