This week israel has its first acquisition sewed up on Snapchat, as said by Calcalist News, Cimagine is acquired four years ago, greater reality platforms let the customers suddenly visualize the products which they want to buy in their respected location, $30 million to $40 million was paid as the Calcalist says. As by the LinkedIn page, brands like Jerome are working with Cimagine, franchise of a furniture store in southern California; the U.K.- based digital retailer shop Direct; Coca cola the global giant-companies augment aiming to help its cloud based mobile platform for their sites and application of mobile, online boost conversion rates and in store sales in the process.
It is expected that for further enhancing the campaigns Snapchat will use the technology previously used by Starbucks, chilled summer drink was launched Snapchat last summer, gave drinkers the capability to lay on other things, a lens over a picture of their beverage called icy Frappuccino and being send to their friends or family. With Cimagine four co-workers this also looks like a talent grab, founders were Amiram Avraham, CEO Yoni Nevo, Ozi Egri and Nir Duane, each were specialized in the image processing and computer version field.
To begin building out a development center in israel Snapchat seem to make a move if it wants, CrunchBase elaborates that the Cimagine has increased and seed funding of concealed amount, which also includes iVentures Asia, Plus ventures and OurCrowd. Meanwhile snapchat is moving towards an IPO that can value the company between $20-$25 billion and it expects to come on march. Snap inc was recently rebranded by Snapchat.which is known to have the rough idea of half a dozren smaller acquiring this year, which also includes an adtech company caleed Flite and Bitstrips which inclueds personalized emoji`s knwn as bitmojis, $100 million were paid to acquire this company as reported by Snapchat.