Snapchat In Talks To Acquire Vurb, A Search Startup
Another Snap Story!
The Acquisition Story
Snapchat seems to be buying a search startup, Vurb for over $100 Million in a 75% stock and 25% cash deal, as per the reports by The Information. Till now, this is the second biggest acquisition by Snapchat in the year 2016.
The 5-year-old startup, Vurb claims itself to be an “experience” search engine that helps people to easily find, save and do the best things by connecting community recommendations, rich content and useful services. Vurb is backed by investors including Redpoint Ventures, Tencent, Marc Benioff, and Dropbox CEO Drew Houston. Bobby Lo is the founder of the startup, who is also getting a multi-year retention package of around $75 Million as a part of the deal.
Vurb’s mobile app integrates with services like Yelp for restaurant information and Fandango for movie tickets. Moreover, the app has a social aspect that shows Foursquare-like tips and recommendations.
What more Snapchat has to achieve till the end of this year?Please share your thoughts in the comments section below.
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