( Image credit: recode.net )
It’s Time to be Best, Not The Biggest.
This is what Snapchat has done by acquiring Bitstrips, the company behind the Bitmoji app, for $100 million in cash and stock. It’s not clear that why Snapchat acquired Bitmoji, however, users feel great to have a funny feature to improve their photos and videos.
Now, Snapchat would enable users to put emojis on photos and videos they send. In addition, it has created a lot of buzz for facial filters that allow users to twist their faces into different characters, and animals. (Facebook bought Masquerade a similar app before fifteen days.)
Bitstrips raised $8 million Series B round
Bitstrips application raised $8 million in funding from Horizon Ventures and Kleiner Perkins Caufield & Byers back in late 2014 to launch custom emoji mobile app.
Bitstrips started to create personalized cartoons from 2007, but after that turned to creating avatars along with the full strips. Bitstrips alias Bitmoji is an app that let users to make an avatar of themselves and then, use in personalized emoji. Users can also customize it to share it on the social media sites.
After the recent update, Bitmoji users able to put their avatar over other images that available on their device. Bitmoji app is available for Android and iOS for free. However, it has many in-app purchases for around $1 each.
Why Snapchat Acquires Bitmojis?
Bitmojis app is being popular among the youngsters to respond to the messages with emojis. Snapchat may decide to have this feature into its application to make it more engaging.
However, the company could possibly decide to use personalized emoji as another revenue generator. It is possible that Snapchat may offer themed emoji to the brand advertisers that enable them to get a more direct connection to its users.
It’s just like how Snapchat let users to put localized illustrations such as the Statue of Liberty on top of their photos when they are near to those places.
Previously, Snapchat has added in-app purchases and brand-designed geo-filter to generate revenue and also helping businesses to promote their products/services through such features.
By acquiring Bitstrips, Snapchat is supposedly looking to create approximately 300 million revenue in 2016, which is more from a described $50 million in 2015.
Emojis are the key revenue stream for your business. Integrate it with Your App.