Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Finance

Finance

Snapchap Buys Startup Company in Israel

Photo: SNAP Photo: SNAP
Photo: SNAP Photo: SNAP

Snapchat recently made its first purchase in Israel by procuring the company Cimagine. Snapchat is reported to have paid around $30 to $40 million for Cimagine, who has worked with Coke, Shop Direct, based in the UK, and a furniture store in California named Jerome’s. While this is Snapchat’s first purchase in Israel, it is one of many ventures the company has explored this year. Snapchat rebranded itself, now called Snap Inc. and purchased Bitstrips for $100 million and the search app Vurb for $110 million.

Cimagine works with companies like these by boosting their in-store sales by supplementing their mobile apps and online presence. Snapchat could use Cimagine’s technology to aid with its campaigns. The Starbucks promotion it had last summer that allowed users to place a filter over their Frappuccino is a perfect example.

It is also expected that Snapchat will begin with an IPO this March that could bring the company around $25 billion in profit. The purchase of Cimagine will gain Snapchat the expertise of Ozi Egri, Amiram Avraham, Nir Daube, and Cimagine’s CEO Yoni Nevo. Each of the four are experts when it comes to the world of computer and image processing.


Comment Template

You May Also Like

Business

Boeing Considers Acquisition of Major Supplier Spirit AeroSystems Boeing is reportedly in discussions to acquire its former subsidiary, Spirit AeroSystems, as both companies grapple...

Business

Overcoming Racist Abuse on the Journey to Property Success Sanmi Adegoke’s journey in the property development industry began without any established connections. In an...

Economy

Israel’s Economy Contracts More Than Anticipated Official figures reveal that Israel’s economy contracted more than anticipated in the aftermath of the conflict with Hamas...

Business

Small Business Marketing With Limited Time and Resources Thriving Against the Odds: The Ultimate Guide to Small Business Marketing on a Tight Schedule and...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok