Web: Snapchat's Acquires Bitstrips for $100M

March 2016 by: From The Web

You as a cartoon? That's what Bitstrips Inc.'s app does, slapping customized avatars onto comical sketches designed to be shared on social media. 


The messages convey greetings, compliments, inside jokes and Internet memes. They're the kind of bright, silly items that catch the eye when they pop up on Facebook or in text messages -- and they apparently captured the attention of Snapchat Inc. executives in Venice.


Though they may be a joke to users, the comics, known as bitmojis, are a big business opportunity for marketers yearning for any chance to be part of conversations happening on smartphone screens. That interest helps explain why Snapchat will spend a reported $100 million to purchase the seemingly trivial technology. 


Bitstrips hasn't said how many people use bitmojis, but young users have helped Bitstrips surge in popularity in the last year, according to app download charts. But the Toronto start-up won't just help Snapchat remain in vogue with them. It would also bring Snapchat another creative advertising option -- and a way to spice up chats.


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