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Snapchat parent company acquires location data startup StreetCred

Snap, the parent company that owns popular multimedia messaging app Snapchat, has announced that it has acquired New York-based location data startup StreetCred, reported TechCrunch.

As part of the acquisition, StreetCred Co-founders Randy Meech and Diana Shkolnikov, along with two more team members, will be joining Snap to work on its map and location-related product portfolio. A major part of that is the Snap Map, which lets users view public snaps from a particular area and share their location with their friends.

Last year, the Snap Map was integrated into Snapchat’s main navigation bar, with the company announcing that the product was being used by 200 million users every month.

Meanwhile, Snapchat has also added other location-based features to its app like the Local Lenses, which let developers create geography-specific Augmented Reality (AR) lenses, that can interact with physical locations.

The financial details of the acquisition have not been disclosed yet, but the existing StreetCred platform will be shut down as part of the takeover.

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