According to Fortune, citing unidentified sources, the red-hot app Snapchat is acquiring Toronto-based Bitstrips, which makes the Bitmojis app, in a deal valued near $100 million.
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The comic avatar generating app’s rage faded with time, but cheer up! Various other terms regarding this deal between the DIY quirky comic strips service and picture messaging service remain unclear for now.
Bitstrips let users create emojis of themselves and place them with phrases and accessories, giving them a more personal way to send emoji to their friends. Users create these avatars, known as “bitmojis”, by choosing from a wide collection of characteristics such as face shape and skin color. Bitstrips had raised about $11M in venture capital before. Recently the company managed to hit the headlines with its news for hiring an expert team in order to develop Snapchat Smart Glasses.
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The Bitstrips acquisition could help Snapchat build on the quirky library of visual filters and lenses it already offers to the messaging app’s 100 million daily users. Currently, Snapchat has filters and emojis and effects that you can put onto any photos and videos. At this point, there is no clarity how Snapchat plans to integrate Bitstrips into the platform. You can even distort your face with different animations.
