Snapchat’s guardian firm Snap has acquired StreetCred, a New York City startup constructing a platform for location information.
Snap confirmed the information to TechCrunch and mentioned the acquisition will end in 4 StreetCred staff members — together with co-founders Randy Meech and Diana Shkolnikov — becoming a member of the corporate, the place they’ll be engaged on map- and location-related merchandise.
An enormous element of that technique is the Snap Map, which permits customers to view public snaps from a given space and to share their location with buddies. Last summer time, the Snap Map was added to Snapchat’s fundamental navigation bar, and the corporate introduced that the product was reaching 200 million customers each month.
At the identical time, Snapchat has been including different merchandise that tie right into a consumer’s places, resembling Local Lenses, which permit builders to create geography-specific augmented actuality lenses that work together with bodily places.
StreetCred is constructing a blockchain-based market for location information
Meech and Shkolnikov ought to be bringing loads of mapping expertise to Snap — Meech was previously CEO at Samsung’s open mapping subsidiary Mapzen, and earlier than that the senior vp of native and mapping merchandise at TechCrunch’s guardian firm AOL (subsequently rebranded as Verizon Media). Shkolnikov, in the meantime, is the previous engineering director at Mapzen.
StreetCred had raised $1 million in seed funding from Bowery Capital and Notation Capital. When I spoke to Meech in 2018, he mentioned his purpose was to “open up and decentralize” location information by constructing a blockchain-based market the place customers are rewarded for serving to to gather that information.
While the monetary phrases of the acquisition weren’t disclosed, the present StreetCred platform can be shut down as a part of the deal.
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