Messaging app maker Snapchat has confirmed it has acquired Toronto, Canada-based bitmoji maker Bitstrips.
The deal, revealed in March by reports, could amount to approx. $100m, “via a mix of cash and stock“.
Following the deal, Snapchat integrated both the team and bitmoji features in its own app.
Established in 2007, Bitstrips has raised over $11m from such backers as Kleiner Perkins Caufield & Byers and Horizon Ventures.
Led by CEO Jacob Blackstock, in 2014, the company created interactive products allowing people to create avatars and personalized comics across multiple the website, a Facebook app, and mobile apps (Android & iOS).
FinSMEs
22/07/2016