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Snapchat Buying AR Startup, Says Report

  • Reuters, Wednesday, December 28, 2016 9:48 AM

Messaging app Snapchat is buying Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million, marking Snapchat's first acquisition in Israel, the Calcalist financial daily reported on Sunday. Cimagine developed True Marketless Augmented Reality – technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their home, on their mobile devices, at the click of a button.

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