According to TechCrunch Media, Snapchat’s parent company Snap has just acquired a location-data startup StreetCred. However, the amount of the buyback was not disclosed.
As a result, the New York-based platform will close its doors and four of its employees will join Snap’s teams. Among them are the company’s co-founders, Randy Meech and Diana Shkolnikov. The latter is the former director of engineering at Mapzen, a former open source mapping company and a subsidiary of Samsung. Meech was meanwhile the CEO of the same company and previously President, Local Products and Mapping at AOL. In 2018, he said his goal was to “open up and decentralize” location data by creating a blockchain-based marketplace where users will be rewarded for their contribution to collecting that data.
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StreetCred specifically created a mobile game where players compete against each other to map their city. With their expertise in this field, they will help Snap develop its mapping and localization products, in this case Snap Map. It launched in 2017 and allows users to view public snapshots in a specific geographic area and share their location with their friends. In the app, users can see their Bitmoji at their location.
Additionally, the StreetCred team will most likely be working on the Local Lenses feature. Recently launched in London, it combines localization and augmented reality as users of the Snapchat application could walk onto a street in the UK capital to virtually paint the walls of buildings. It is not excluded that they are also involved in the development of places. This tool built into the Snap Map allows you to trade with a company simply by clicking on the map in the application.
As a reminder, Snap’s priority remains Augmented Reality, as announced at Snap Partner Summit 2020. There is no doubt that StreetCred employees can help the social network improve their technology to incorporate it into their card.