Snap (NYSE: SNAP) has acquired Fit Analytics, a Berlin-based firm, in order to work on a long-term push towards bringing more e-commerce and in-app purchases to Snapchat. The transaction value has yet to be disclosed.
Fit Finder, a product by Fit Analytics, is a machine-learning based product that businesses use to help online customers by providing them recommendations. For example, it can aid in picking properly fitted clothes, reducing returns and improving customer satisfaction.
The need to prioritize in-app purchases has been heightened due to the privacy changes that Apple has announced for iOS 14, which will make it more difficult for companies like Facebook, Google, and Snapchat to collect data.
In a press release, Fit Analytics said “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 Finder will now operate under the Snap umbrella and over a 100 Fit Analytics employees will now join Snap in the Berlin office.