Snapchat is adding power behind its Snap Maps with the acquisition of NY-based location data startup StreetCred.
Terms of the acquisition were not disclosed, but StreetCred will be shuttered.
Snap Maps are about to get a huge upgrade as Snapchat concludes the acquisition of StreetCred, one of the hottest location data startup. While there is no information yet on how the platform will be integrated, Snap Inc. communicated that the StreetCred platform will cease to exist and all four members of its team will join Snap, including co-founders Randy Meech and Diana Shkolnikov.
Meech and Shkolnikov founded StreetCred after having both worked at Mapzen, Samsung’s now-defunct open mapping subsidiary.
Snap Inc. confirmed the acquisition and explained that the tech behind StreetCred will help create new product areas around Snap Maps, the personalized location-based feature it introduced in June 2017 as a way to let Snapchatters see where their friends are on a map, along with publicly submitted Snaps from the map area and Places, added last June to highlight local businesses.
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