Snapchat reportedly buys bitmoji app Bitstrips for $100 million

Snapchat has reportedly bought the bitmoji app, Bitstrips, for $100 million, using a mix of cash and stocks. A report by Fortune points out that Bitstrips was originally introduced in 2007 and is based in Toronto. However, it is not clear at the moment as to what the company plans to do with Bitstrips. Back in 2013, Bitstrips had raised $3 million in funding. Bitstrips can be used to create avatars of yourself. You can choose what your avatar wears and how it looks. Some have successfully managed to make a lot of these avatars look like themselves. These avatars can then go on to star in comic strips starring you and your friends. There are a bunch of scenes that you can put your character in and Bitstrips keeps adding more over time for users to explore. Bitstrips even has an iOS and Android app for users to make comics on the go. According to a previous report , Snapchat has also hired developers from major augmented reality groups like Microsoft’s HoloLens, PTC’s (formerly Qualcomm’s) Vuforia and eye-tracking tech maker Eyefluence to make Snapchat’s pair of “smart” glasses. The company showed interest when Google launched Glass. Snapchat later bought Vergence Labs, which produced a pair of glasses equipped with an embedded camera, for $15 million in March 2014.