Cimagine Media, the Israeli startup, has reportedly been silently acquired by Snap Inc, the company behind the already famous Snapchat.
Snap Inc is an American company. It was founded in 2011 and is based in Los Angeles, California. It is specialized in social media.
The multinational is perhaps best known for Snapchat. Their image messaging application was quite quick to rise as a user favorite. Most recently, the company also released a new product.
This is the Spectacles. The smartglasses work exclusively with their Snapchat platform. They are also only available through the Snapbot, a pop-up vending machine.
Cimagine Media is an Israeli-based company. It was founded in 2012 and has an international outreach. The company can be found in the United States, Australian, and United Kingdom markets.
Its area of expertise includes real-time image processing and computer vision. It is also active in mobile, business, and marketing development. Cimagine offers technology, architecture, retail, and user experience solutions.
Their latest domain is AR. AR or augmented reality is their next commercial target. Cimagine Media has launched the largest global retail AR implementation. It did so with Shop Direct. It can also boast with the world’s largest AR showroom.
According to media reports, Snap Inc. has reportedly gone and acquired the said startup. Reports have vehiculated a $30 to $40 million sales value.
The move would be a potential game changer for Snap Inc. Specialists consider that the sale could come to greatly advantage the buyer. The Snapchat owner could come to make use of the Cimagine technology.
For example, it could enhance its present campaigns. Cimagine Media has a cloud-based mobile platform. This can help its customers augment their sites and mobile apps. This should, in turn, help them increase their conversion rates and in-store sales.
Such a technology could come to be used in Snap campaigns, such as the Starbucks one.
Snap Inc could also some to benefit from the sale by expanding its outreach. It could come to build a working base in Israel. A development center could also be established.
Cimagine Media also has to offer quite some talents. Its four co-founders are already well-known in their areas of expertise. The CEOs Amiram Avraham, Yoni Nevo, Nir Daube, and Ozi Egri are computer vision and image processing specialists.
Cimagine currently has a 20 employees workforce. However, most expect this to expand quite quickly. They are also behind the True Markerless Augmented Reality.
This technology allows its users to preview a wide range of products. By using AR, they can use a mobile app that will virtually arrange the desired objects in their homes.
As such, the customers will get an in-home perspective of the respective good. Currently, the service expands from furniture to appliances.
Snap Inc will reportedly be making use of this technology in their future projects. Cimagine Media is not the only Snap acquisition.
The company, which is not big on public sale announcements, made quite some acquisitions. They bought around half a dozen companies.
These include the ad tech Flite and Seene, a computer vision startup. Bitstrips, a personalized emojis maker is also on the list. As is Vurb, a mobile search app.
Snap Inc. has previously revealed its interest in AR. Earlier this year, reports also seemed to indicate that the company might be working on its own headset.
Snap has been quite strongly indicating a possible domain change. It seems to be quietly moving on from apps and transitioning towards hardware.
It remains to be seen if it will take definite steps in that direction. For the moment, the company is reportedly targeting an IPO. This could be expected to come as early next year as March.
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