Snap acquires location data startup StreetCred – TechCrunch

Snapchat’s parent company Snap Acquired Reliability, A New York City startup building a platform for location data.

Snap confirmed the news to TechCrunch and said the acquisition would result in four Reliability Team members – including co-founders Randy Mitch and Diana Shkolnikov – join the company, where they will work on map- and location-related products.

Is a major component of that strategy Snap map, Which allows users to view public photos from a given area and share their location with friends. Last summer, Snap Map was Added to Snapchat’s main navigation bar, And company Announced The product was reaching 200 million users every month.

At the same time, Snapchat is adding other products that tie into user locations, such as Local lens, Which allow developers to create geography-specific augmented reality lenses that interact with physical locations.

Mitch and Shkolnikov will be bringing a lot of mapping experience to Snap – Mitch was previously CEO at Mapzen, Samsung’s open mapping subsidiary, and was previously Senior Vice President of Local and Mapping Products at TechCrunch’s parent company VOL (later as Verizon Media Re-enrolled). Shkolnikov, meanwhile, is a former engineering director at Mapzen.

Cedred raised $ 1 million from seed funding Bowery capital And notation capital. When I spoke to Mitch in 2018, he stated that his goal was to “open up and decentralize data” by building a blockchain-based marketplace where users would be rewarded for helping collect that data. is.

While the financial terms of the acquisition were not disclosed, the current streetcred platform will close as part of the deal.