SnapChat Acquires AIFactory For $166 Million

Image
Snapchat

SnapChat has confirmed acquiring San Francisco-based AIFactory, a computer vision startup for $166 million. Notably, both the firms have worked together before this deal as AIFactory is responsible for the Cameos feature in the Snap app. Cameos allow users to insert a selfie over a singing bird, a talking cat, or on other people's faces and then loop it into a video.

AIFacroty was co-founded by Victor Shaburov, the man who served as Snap’s director of engineering till May 2018. Greg Tkachenko and Alexander Mashrabov are the other two co-founders of the firm. Notably, AIFactory's majority of the team work out of Ukraine and post this deal, a part of them will be relocating to the States.

Another thing to note is Shaburoy had founded Looksery, a firm that developed facial recognition and augmentation software and that too was acquired by Snap in 2015 for an undisclosed amount. While being with Snap after Looksery's acquisition, Shaburov looked after Snap’s Lenses and other AR programming efforts. During that time Snap had launched Spectacles eyeglasses, their only hardware offering. The firm through it wants to be a leading developer of AR and computer vision capabilities.

AIFactory dubs itself as the provider of “multiple AI business solutions based on image and video recognition, analysis and processing” as per their LinkedIn profile. Post the deal, AIFactory will get more chances to build some of its technology into more innovative ways for businesses.

It will be interesting to see how AIFactory adds more features in Snap’s app and makes Snapchat more interesting.

 

Image Courtesy : VentureNews

Add new comment

About Author