Snapchat Is Raising $1 Billion In Support Of AR, New Acquisitions

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The disappearing message app doubles-down on its commitment to AR.

According to a new report by Reuters, Snap Inc., the company behind the immensely popular multimedia messaging app Snaptchat, is raising a staggering $ 1 billion to invest in new AR content, media partnerships, and potential acquisitions. 

“We will continue to focus on developing our content, gaming, and augmented reality platforms to enhance the Snapchat experience for our community,” said Snap Chief Executive Evan Spiegel in a memo sent to employees seen by Reuters.

VRScout

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