Snap Acquires Apparel-Sizing Analytics Firm to Boost Snapchat Shopping Features

Snap wants to get Snapchat’s young-skewing user base to buy more stuff through the social app. As part of that strategy, Snap has acquired Fit Analytics, a German apparel size-recommendation engine that helps online shoppers virtually find the right clothing size. Financial terms of the deal were not disclosed. Founded in 2010, Berlin-based Fit Analytics provides a product called Fit Finder to over 18,000 retailers and brands. Through this acquisition, more than 100 Fit Analytics team members will join Snap, most of which are technical staff across engineering, data science and product roles. The drive to boost ecommerce revenue is part of Snap’s ambitious growth strategy: The company is projecting top-line increases of at least 50% annually over the next several years — a forecast that isn’t predicated on growth the Snapchat user base, according to CEO Evan Spiegel. Snap sees clothing as a massive opportunity. According to research firm Piper Sandler, apparel and accessories currently represent one-third of total U.S. teenager spending and is the largest single category among the cohort. As part of Snap, Fit Analytics will continue to serve its existing clients. It also will work with the Snap product team to grow its e-commerce and shopping offerings,…
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