June 9th, 2021
Filing: Snap paid $124M for Fit Analytics as it gears up for a bigger e-commerce push
Snap (Snapchat's parent company), is moving from pure entertainment to tackle e-commerce by purchasing Fit Analytics - a fitting technology startup that powers billions of accurate sizing recommendations for the world's leading apparel companies annually.
With Snapchat's current revenue coming from advertisement, its popular experience of augmented reality and filters, and Fit Analytics - Snap aims to help shoppers find the right-sized apparel and footwear from online retailers.
This collaboration presents a new way of shopping for their young audiences, using AR to accurately try on clothes, shoes, and accessories online.