Snap is looking to augment its location-based AR experiences with a new acquisition of the Colorado-based 3D mapping startup, Pixel8earth. The $7.6 million acquisition will aid the company’s efforts to create a personalized mapping experience and create new revenue streams, such as business promotions. As part of the deal, four employees will join Snap.
Zoom In: Snap Map currently boasts 250 million monthly users. Previously in 2017, the popular social media platform also acquired Zenly for $213 million, which has been one of their significant acquisitions to improve their map experience to date. The app allowed users to be located by their friends on a map. In January this year, Snap also acquired StreetCred, which crowdsources mapping data, including points of interest.
