/>
X
Innovation

Snap acquires Israel-based AI startup for $40 million: Report

Snapchat's parent company has made another artificial intelligence play. This time, it's centered around e-commerce.
Written by Jake Smith, Contributor on
snapchat-app-ios.jpg
CNET/CBS Interactive

Snap, the parent of popular messaging app Snapchat, has acquired Israel-based Cimagine to bolster its artificial intelligence offerings, according to Calcalist.

The Cimagine acquisition, reportedly in the $30 million to $40 million range, will start research and development activities in Israel for Snap. Cimagine currently has more than 20 employees and is looking to expand, the report noted.

Snap hasn't confirmed the acquisition. We have reached out for more details.

Cimagine's AI technology allows users to "visualize products in life-like 3D images at the click of a button."

Snap, who relies heavily on AI within its app already, could use Cimagine to help customers make purchases.

Gallery: Google's Waymo shows self-driving van with plenty of sensors

Editorial standards

Related

The 16 best Cyber Monday deals under $30 still available
Amazon Fire TV Stick 4K

The 16 best Cyber Monday deals under $30 still available

These file types are the ones most commonly used by hackers to hide their malware
getty-a-woman-looking-at-a-laptop-with-a-concerned-expression.jpg

These file types are the ones most commonly used by hackers to hide their malware

Don't waste your money on these Apple products: December 2022 edition
Waiting in line for the Apple Store

Don't waste your money on these Apple products: December 2022 edition