Snapchat to Acquire Bitstrips for $100 Million: Report

Snapchat is buying Bitstrips.

According to Fortune, Snapchat has agreed to acquire the Toronto-born maker of “bitmojis” for around $100 million.

Founded in 2007, Bitstrips last raised venture capital in 2014 from Horizons Ventures and Kleiner Perkins Caufield Byers.

Snapchat is valued at around $12 billion.

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