Filing: Snap paid $124M for Fit Analytics as it gears up for a bigger e-commerce push

Earlier this year we reported on how Snap had acquired Berlin-based Fit Analytics, an AI-based fitting technology startup, as part of a wider push into e-commerce services, specifically to gain technology that can help prospective online shoppers get a better sense of how a particular item or size would fit them. A 10-Q filing from Snap today has now put a price tag on that deal.Snap paid a total of $124.4 million, covering technology, IP, customer relationships and payouts to the team. The filing also noted that Snap spent a total of $204.5 million on acquisitions in 2020, but did not break them out.The news comes ahead of Snap — whose flagship app Snapchat now has 280 million daily active users — preparing for its Snap Partner Conference in May. Sources say the company plans to announce, among other news, deeper commerce features for Snapchat — specifically tools to make it easier for Snapchat users to interact with and buy items that appear in the app, either in ads or more organically in content shared by other users.While the exact details of those commerce tools, and the timing of when they might come online, are not yet known, Snap has…
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