It looks like Snap and Fit Analytics will be sharing the same changing room soon enough — scandalous!
Snap Inc. (SNAP) bought the Berlin-based startup, which is known for its product Fit Finder that helps consumers find the right clothing fit (duh) when shopping online, in an effort to reduce returns. The purchase amount was kept a secret, though.
If you’re wondering why exactly the people at Snap are buying a startup in the fashion industry, then you’re not the only one! See, the company is really doubling down on its e-commerce applications via new in-app products and services built on augmented reality. Given that e-commerce has grown at a rapid pace since the pandemic hit, Snap is clearly trying to take advantage of that by investing in innovative tech.