Snap acquires Fit Analytics in e-commerce push

Evan Spiegel

Ray Tamarra | Getty Images

Snap has acquired a Berlin-based firm that helps consumers pick the right size of clothing when they shop online, the social media company said Wednesday. The companies did not disclose the size of the deal.

Fit Analytics is the maker of a product called Fit Finder, which businesses use to help online customers pick properly fitting clothes in an effort to reduce returns. Fit Finder uses machine learning and customer-provided information to make its recommendations.

Snap is acquiring the company as part of a long-term push to bring more e-commerce and in-app purchases to Snapchat. 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.

“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 said in a post announcing the acquisition.

More than 100 Fit Analytics employees will join Snap and continue to operate out of Berlin. The company will also continue to build Fit Finder and other products for its clients. The team will also work closely with Snap’s product group on e-commerce and shopping products, Snap said.

“Longer term, we’re investing in using first-party data from our platform, and providing more opportunities for on-platform conversion, which will really help,” Snap Chief Business Officer Jeremi Gorman said during the company’s fourth-quarter earnings call in February.

Source link




Global food prices have been rising during pandemic, hitting food security

People wearing masks visit a market amid the coronavirus outbreak on March 8, 2020 in Kunming, Yunnan Province of China.Liu Ranyang | China...

FCA ‘Know & Go’ owner education app debuts with 2021 Ram 1500 TRX

FCA has developed a new app called “Know & Go,” and it’s debuting with the 2021 Ram TRX. The purpose of the app...

Rep. Jim Jordan of Ohio will not run for Senate seat held by Portman

Representative Jim Jordan, Republican of Ohio on Capitol Hill in Washington, DC.Saul Loeb | Pool via ReutersRep. Jim Jordan of Ohio will not...

2022 Nissan Rogue Sport spy photos reveal parts of interior

The next-generation Nissan Qashqai (sold in the United States as the Rogue Sport) has been spied in the wild yet again, and this...

Carlyle’s Rubenstein on U.S. economy, stock market and Covid relief

David M. Rubenstein, Co-Founder & Co-Executive Chairman, The Carlyle Group.David A. Grogan | CNBCCarlyle Group co-founder David Rubenstein told CNBC on Thursday he believes the...