Snap Inc. Is Apparently Buying An Augmented Reality Startup

<p>The company that owns Snapchat is acquiring an&nbsp;<a href="http://venturebeat.com/2016/12/24/snap-reportedly-acquired-augmented-reality-startup-cimagine-media-for-up-to-40-million/" target="_blank">augmented reality firm</a>.</p><p>Snap Inc. is buying Israeli startup Cimagine for an estimated $30 to $40 million, according to&nbsp;<a href="http://www.calcalist.co.il/internet/articles/0,7340,L-3704438,00.html" target="_blank">Calcalist</a>.</p><p class="related"><span>Related Story</span><a href="http://www.newsy.com/stories/snapchat-introduces-spectacles-video-sunglasses/"><img src="http://newsymain.npgroup.netdna-cdn.com/images/videos/356x200/1474729370.jpg" alt="Coming Soon: Snapchat Sunglasses" />Coming Soon: Snapchat Sunglasses</a></p><p>Cimagine&#39;s main client base is retailers and manufacturers — the company&#39;s technology projects furniture and appliances into real-life spaces, so users can see how something looks before they buy it.</p><p><a href="http://cimagine.com/solutions/" target="_blank">Notable Cimagine customers</a>&nbsp;include Coca-Cola and Shop Direct.</p><p>As far as what the company will do for Snap, well, that&#39;s kind of up in the air.&nbsp;<a href="http://venturebeat.com/2016/12/24/snap-reportedly-acquired-augmented-reality-startup-cimagine-media-for-up-to-40-million/" target="_blank">Some speculate</a>&nbsp;the acquisition could help Snapchat stay ahead of other social media companies.</p><p><a href="https://techcrunch.com/2016/03/09/facebook-acquires-video-filter-app-msqrd-to-square-up-to-snapchat/" target="_blank">Facebook</a>&nbsp;and&nbsp;<a href="https://vimeo.com/177180549" target="_blank">Instagram</a>&nbsp;have both rolled out features eerily similar to Snapchat&#39;s photo and video filters. Improved augmented reality could help keep Snap competitive.</p><hr><b>Trending stories at <a href="http://www.newsy.com">Newsy.com</a></b><ul class="inline-related-links"><li><a href="http://www.newsy.com/stories/new-macbook-pro-fails-consumer-reports-recommendation-tests/">Here&#039;s Why Consumer Reports Won&#039;t Recommend The New MacBook Pro</a></li><li><a href="http://www.newsy.com/stories/france-opens-world-s-first-solar-panel-road/">France Just Opened The World&#039;s First Solar Panel Road</a></li><li><a href="http://www.newsy.com/stories/tech-innovation-creates-more-cybersecurity-risks/">The Cybersecurity Stakes Just Keep Getting Bigger</a></li></ul>