Social media company Snap has acquired Fit Analytics, a German firm that helps shoppers make sure they’re chosen the right sizes when they buy shoes or clothing online.
“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,” Fit Analytics CEO Sebastian Schulze wrote in a Wednesday (March 17) blog post. “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.”
Fit Analytics makes a product known as the “Fit Finder,” which uses a combination of machine learning and info provided by shoppers to make its size recommendation. Businesses use the Fit Finder to help consumers pick the right items and avoid returns.
“Snap is acquiring the company as part of a long-term push to bring more e-commerce and in-app purchases to Snapchat,” CNBC reports. “Snap is making in-app purchases a greater priority partly to balance upcoming privacy changes to Apple’s iOS devices. Those changes will make it harder for companies like Snap to track how well their ads led to purchases, spurring them to find alternative sources of revenue.”
The two companies did not disclose the size of the deal. More than 100 Fit Analytics employees will join Snap but will continue operating out of Berlin, CNBC said.
This acquisition is the latest step in Snap’s journey to become a super app ecosystem. In the space of just a few days earlier this year, the platform made headlines for, among other things, forging a new agreement that allows musicians to license their work on Snap directly, creating a partnership with the NBA to promote the All-Star Game and inking a digital advertising deal with the massive newspaper chain Gannett.
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