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Report: Snap Inc. spent millions to get better at augmented reality
The creators of Snapchat are running toward an IPO at full speed, but it seems to have nabbed itself a neat holiday gift along the way. According to a report from The Calcalist (as interpreted by The Times of Israel), Snap Inc. recently acquired an Israeli augmented reality firm called Cimagine for somewhere between $30 million and $40 million. The team will supposedly stay put and become Snapchat's latest R&D division, which no doubt made their holiday plans just a little more festive.
