Messaging App Maker Snapchat Buys Bitmoji Maker Bitstrips

snapchatMessaging 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).



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