Snap Buys Vertebrae For Undisclosed Sum To Work Towards Making AR Shopping A Reality
American multimedia platform Snap has acquired Vertebrae. It is a 3D and augmented reality commerce solutions provider. The company was founded in 2015. Snap, however, did not disclose the amount for which it acquired Vertebrae. Snap said that Vertebrae’s team will continue to work for its existing clients. Besides, it will also provide services to the new clients. Vertebrae CEO Vince Cacace said that joining Snap will help strengthen the 3D asset platform worldwide for brands, and retailers as well. Vertebrae in just five years of its service helped leading brands to create and manage 3D versions of their products.
The company had in 2019 working with social media giant Facebook on AR shopping tech. Toyota, Adidas is also among other leading brands as its clients. Vertebrae have so far managed to raise USD 10 million in venture funding. Snap’s idea behind acquiring Vertebrae is to ease uploading visuals and details about a product in 3D. Snap believes that this will open a new window for shoppers to access the products directly with detailed information and create engagement. It will increase the potential of buying the product directly. Snap sees AR as a new way to shop and enhance shopping experiences. The company earlier used AR tech for effects.
Snap has been working on enhancing AR shopping experiences. Vertebrae in a statement said that it will continue to work to make AR commerce easy and offer a new kind of experience to customers at touchpoints. Snap recently had a collaboration with Gucci. It allows customers to virtually try its products and make the right choice before buying. In May this year, Snap acquired WaveOptics. The company is an AR display provider. It will power Snap’s new Spectacles glasses. The company claims that the next-gen Spectacles seek to bring AR to life. Meanwhile, Snap has launched new AR tools and camera experiences. It has also launched Story Studio. It is a standalone app that comes with powerful editing tools for creators.
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