Snapchat buys AI Factory for $166M
By MYBRANDBOOK
After acquiring Ukraine startup Looksery in 2015, Snapchat has again acquired AI Factory to improve its video capabilities. The latter is a computer vision startup and Snapchat had worked with the company to create Snapchat’s new Cameos animated selfie-based video feature, for a price believed to be in the region of $166 million.
Cameos, launched last month, lets user take a selfie, which is then automatically “animated” and inserted into a short video. The selection of videos is currently around 150 which is created by Snapchat.
AI Factory has offices in San Francisco but the majority of the team is based out of Ukraine. Part of the team will relocate with the deal, and part will stay there.
Snap had also been an investor in AI Factory. Part of its early interest would have been because of the track record of the talent associated with the startup. Lenses have been a huge success for Snapchat. 70% of its daily active users play with them, and they not only bring in new users, but increase retention and bring in revenues by way of sponsorships or users buying them — so creating new features to give users more ways to play around with their selfies is a good bet.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : AMIT CHADHA
Amit Chadha serves as the CEO and Managing Director of L&T Technology ...
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
ICONS OF INDIA : RAMESH NATRAJAN
Ramesh Natarajan, CEO of Redington Limited, on overcoming ‘technolog...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...