Snapchat just completed its first tech acquisition in Israel when it acquired the augmented reality firm Cimagine, providing the messaging app an even stronger foothold in the burgeoning AR segment.
Cimagine, that has been in operation for four years now, is credited with developing the True Marketless Augmented Reality technology that lets users superimpose furniture or other objects in their room. This way, users will get to know how the objects fit into their existing setup at home, thereby allowing them to make better purchasing decisions.
Cimagine currently has a working arrangement with companies such as Jerome’s, a furniture store franchise in Southern California or the U.K.-based digital retailer Shop Direct. The exact valuation of the deal isn’t known but is believed to have cost the social medial company around $30 to $40 million.
The timing of the acquisition is also interesting considering that Snapchat is expected to go public by March 2017 itself. The California-based Snapchat is valued at around $25 billion.
Snapchat though hasn’t stated how they wish to make the most of Cimagine’s expertise. Experts believe it is the 20 members highly talented Cimagine team that might have drawn the social media company towards them more than their existing portfolio.
That said, 2017 might well see the launch of a new Snapchat subsidiary that will let its users a far more comprehensive method of buying things. With Cimagine’s technology, users can figure out how well the things they wish to buy will match their requirements.
While the above can already be applied to furniture, it can also be expanded to dresses as well. This way, users can virtually try out a dress before eventually settling for one, while also Snapchatting images of it to their friends as well.
Overall, what is amply clear is that Snapchat has some grand plans up its sleeve in the augmented reality space. However, we got to wait for some more time before we can make out what those are.