Snapchat Invests in AR; Twitter Begins 360° Live Streaming
While neither company has issued a statement, tech sites are widely reporting that Snap Inc., Snapchat's parent company, has acquired Israeli augmented reality startup Cimagine for between $30 million and $40 million. Cimagine allows users to view their living spaces through a phone or tablet's camera, then insert objects—perhaps seeing how a new couch or TV set would look in the space. The company has worked with major brands including Coca-Cola, HSN, and John Lewis. Speculation is that Snap Inc. made the investment not so much for the technology as for the talents of the company's four co-founders, all of whom are experts in computer vision and image processing, TechCrunch reports.
Snap Inc. recently filed for an IPO, which is expected to come this spring, valuing the company at between $20 billion and $25 billion.
Meanwhile, Twitter has begun offering 360° video streaming. For now, broadcasting is confined to select partners using Periscope, but any viewer can see the results. 360° videos get a Live 360 badge. Viewers can pan around the image either by moving their mobile device or swiping on the screen. Periscope will expand the feature to other broadcasters in the coming weeks. Those interested can add their names to a waitlist.
Speakers from Magic Leap, Niantic, HTC, RYOT, and the Olympic Committee talked up immersive media and entertainment experiences made possible with 5G.
While Twitter wants to learn a video lesson from Snapchat, walled garden Snapchat is learning to play nice with Twitter and Facebook.
In a bid to expand beyond its own walled garden, Snapchat is creating a way to embed videos on web pages. Could this give the platform the boost it needs?
The social video platform has found success working with established media properties; now, it wants to produce and promote original series, as well.
Snap's value tumbled quickly from its IPO high while Facebook continues to eat its lunch, but don't count the social video service out just yet.
At its first newfront, Twitter announced deals with the WNBA, MLBAM, NFL, the Players' Tribune, PGA, Bloomberg, BuzzFeed, LiveNation, and more.
The disappearing picture and fun filter company plans to cash in with a valuation of up to $25 billion, but does the still unprofitable Snap have staying power?
In a continuation of its 2015 Series F round, Snapchat takes $175 million from Fidelity Investments, bringing its funding total to $1.3 billion.
The social network's members can now slow down, speed up, or reverse a video, but the updated terms of service caused a commotion.
Facebook and Twitter are making substantial investments to bring more video to their users. Learn how these new video platforms differ from established online video providers.