After procuring Looksery, a Ukraine startup Snapchat has acquired AI Factory, a computer vision startup. Snapchat and AI Factory had previously worked together on Snapchat’s new Cameos animated selfie-based video feature, which is supposed to be $166 million.
Snap had earlier invested on AI Factory and the reason behind it could be that their lenses had been a great success. Nearly 70% of its everyday users play with them and not only that; there is raised retention and revenue through sponsorships and users.
It is unknown if AI Factory will come up with selfies in any video or it is limited to particular videos only offered by Snap. We are also unsure of what AI Factory is upto because their website barely has any information except mostly about their company. Their LinkedIn page says that “AI Factory provides multiple AI business solutions based on image and video recognition, analysis and processing.”
So as the company is under Snapchat, there may be scope for the team to build some of its technology into more innovative ways for businesses to use the Snap platform in the future, too.