SNAP, the maker of the wildly popular Snapchat mobile app, made an acquisition this week. The company has just acquired location sharing app Zenly and Placid, a Seattle-based Startup.

According to TechCrunch, the company’s recent 10-Q SEC document filing has just confirmed that it acquired the France-based startup Zenly for $213 million. Based on the filed SEC document, Snap has spent $213 million in cash last May for Zenly, which built a Snap maps-like application that allows people to see where their friends on a map. The location sharing app will remain functional, but the app’s concepts will be integrated into Snapchat feature

In addition to Zenly, the recent SEC document filing also confirmed that it bought Seattle-based Placed in June.

Reports said that the company has paid $135 million for the advertising measurement services startup. Placed's technology helps advertisers track store visits and real-time purchases.

Snap, a close look

Founded in 2010 and based in Venice, Los Angeles, Snap is a US-based technology and social media company, founded by Evan Speigel and Bobby Murphy. Originally named as Snapchat, the company was rebranded as Snap to include the wearable camera product called Spectacles brand under a single company.

The company develops and maintains the wildly popular mobile app Snapchat and the wearable camera Spectacles, a pair of smart glasses that connect to the user’s Snapchat account. Spectacles made its first online debut in February 2017.

Snap has been some excellent performance in the market. In November 2016, The company filed its first IPO (initial public offering), which it made an estimated market value of $25 to 35 billion.

The company took a massive beating after it's missed the Wall Street's revenue estimates. However, it has managed to recover and made some real turnaround.

Other Snap-related news

Snap made a big headline recently when Business Insider reported Google’s plans to buy the company. According to the US online publication, Google has made two attempts to purchase the mobile chat app. The first attempt was just after the company’s Series F funding round, which has valued the company at a whopping $20 billion.

The second one took place after Snap announced its intention to offer IPO (initial public offering)on the stock market.

According to Business Insider, the search engine giant made a $30 billion offer for the social media app, which was rebuffed by the company's CEO Evan Speigel. Some sources said that the two had been in discussions about a potential buyout just ahead of Snap’s March IPO. Google’s reported bid price was much bigger than Facebook’s offer for Snap in 2013. Facebook made a $3 billion offer to buy the popular mobile app but was declined by the company.

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