Snapchat to Buy Augmented Reality Start-up Cimagine Media, as reported by Calcalist Financial Daily. Snapchat, that has got popularity among youth in a very short period of time, will buy Israeli augmented reality startup Cimagine Media worth $30-$40 million hence announcing Snapchat’s first ever acquisition with Israel. Cimagine Media is an Israeli company that develops Augmented Reality setups for different companies.
Snapchat to Buy Augmented Reality Start-up Cimagine Media
What is Cimagine???
“Cimagine” helps in developing “True Marketless Augmented Reality”; a technology that will allow users to virtually put furniture and other appliances as they wish to buy for their homes while using their mobile phones, on a single click of button.
Cimagine will work as Snapchat’s research & development center in Israel and is also expected to increase its present number of employees to a greater number.
The Calcalist said that:
“The company’s highly-skilled team is probably the main reason for the acquisition, rather than its technology.”
Whereas, the officials of Cimagine presently did not comment on this news.