January 06 - 10:01
Snap Inc buys AI Factory for $166 million
Snap Inc, the parent company of Snapchat, has bought Ukraine-based company called AI Factory. A report by Tech Crunch said the acquisition is worth around $166 million. AI Factory is a startup developing image and video recognition, analysis and processing technology. Snapchat had recently added AI Factory's Cameo selfie video feature to its platform, leading to the purchase.
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