Snap stumps up $124.4 million to buy Fit Analytics
Snap, the parent company of Snapchat, paid $124.4 million to acquire Berlin-based apparel and footwear technology startup Fit Analytics.
The deal was announced in March.
A filing has now emerged, revealing the price tag. The filing also showed that Snap spent a total of $204.5 million on acquisitions in 2020.
“This acquisition will strengthen our position as an industry leader in apparel and footwear technology. If you are a Fit Analytics partner, this is only the beginning,” Fit Analytics said in March.
“By leveraging Snap’s scale and capabilities, we will not only continue to service our existing clients, but also deepen our relationships and offerings with our brand partners and retailers.”
“Our main focus going forward will be to scale the Fit Analytics business and work with Snap to grow their shopping platform, leveraging our technology and expertise. Our teams will be jointly executing on next generation shopping, fashion and style offerings.”
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