North West | Finance, business | Technology & innovation

U.S. company buys AI start-up with Russian roots

13 Jan '20
Snap, Inc., a U.S. company that owns a globally recognized messaging app called Snapchat, acquired AI Factory, a start-up of Russian origin, in a $166m deal, Firrma.ru reported.

Set up in 2018 by alumni of three major Russian technology universities including MIPT (aka Phystech in Moscow), ITMO (St. Pete) and St. Petersburg State University, AI Factory has developed among other things whats known as Cameo functionality, which can turn ones selfie into a short video with a variety of effects and stickers that can be added.

Snap, Inc. is a company established by three Stanford University alumni to develop an innovative multimedia messaging app they called Snapchat.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Tags: Snap, Inc. (0) / Cameo functionality (0) / AI Factory (0) /

Latest News: North West
27 Jan '20 | Technology & innovation
24 Jan '20 | Technology & innovation
 

Feature stories

25 Dec '19
Scientists in Siberia have come up with their own...
8 Nov '19
For the first time in the history of Russian-African...
29 Oct '19
Search (News archive - 21778)
Advertising
AIM_Congress
Advertising
NATT
Advertising
Venture_Russia_2018
Advertising
Marchmont News

Latest News

14 Feb '20
MTS, one of Russias top four mobile telecom...
12 Feb '20
A start-up called Tango Vision is developing a...
11 Feb '20
A Russian company is using technology to help high...

Most read stories from last week

14 Feb '20
MTS, one of Russias top four mobile telecom...