Its most recent acquisition is that of AI Factory – a San Fransisco-based startup that builds AR software – for a reported $166m, just last week on Jan. 4. On a side note, AI Factory is also the company that helped Snap to develop its recent Cameos feature. The details of its exact offering and remain a bit obscure, as its website explains it builds “AR products with focus on image and video recognition, analysis and processing.”
According to sources AI Factory is expected to operate as a subsidiary within the main business organization.
Its team includes a group of “young scientists, coding monsters and creatives eager to make lives better with the help of AI.”
The company’s co-founder and CEO, Victor Shaburov, was actually Snap’s director of engineering for a number of years (2015 to 2018). The first time he joined Snap is when another company he founded – Looksery Inc. – was acquired by Snap.
See the full story here: https://wersm.com/snap-quietly-acquires-aifactory/