Snapchat Reportedly Acquires Bitmoji Maker Bitstrips For $100 Million (fortune.com)

Posted by BeauHD on Friday March 25, 2016 @11:24AM from the that's-a-lot-of-zeros dept.

An anonymous reader writes: According to a report from Fortune, Snapchat, the messaging platform which has recently become the number one free app on the App Store, has agreed to acquire Bitstrips, the folks behind the popular emoji-creation service Bitmoji. Fortune's sources has said the deal is "in the ballpark" of $100 million. TechCrunch writes, "The idea behind Bitmoji is simple. Users download the app and create an Avatar that represents them. They can choose from a wide range of options like face shape, hair color and cut, eye shape and color, etc. From there, Bitmoji is added as a third-party keyboard, and the app offers hundreds of options for users to send to their friends, all featuring their avatar." It'll be interesting to see which features of Bitstrips will be implemented into Snapchat, given Bitstrip's experience with keyboard integrations.

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Insane by Natales · 2016-03-25 11:31 · Score: 4, Insightful

May be I'm just getting old but I cannot wrap my head around these kinds of deals. Paying 100M for bullshit like that, when I can enumerate dozens of startups with amazing technology and real innovations in cloud, back-end services, automation, platform, security, etc, that can barely get a couple of millions to continue their development. The industry is ran by teens now.