Snapchat recently released a pretty interesting feature called Snap Maps. The feature allows users to pinpoint and interat with their friends on a map based on their live locations. It also allows users to click on any particular user an instantly access their stories, The feature could turn out to be an an engagement drier for Snapchat, and something that Facebook and Instagram and all the rest copy next.
So how did Snap come by this feature? Well, the company acquired social mapping startup Zenly, which already did something of the sort. The acquisition is said to have cost Snap anywhere between $250 to $350 million, and was mostly cash and some stock. The deal has already closed (in May) and Snap plans on running the company independently, kind of its own Instagram.
So if you are familiar with Snap Maps, Zenly wouldn’t come as a surprise. The startup has a mapping application that brings in real time location into the equation of social networking. You can chek out your friends using the GPS and then message them from withing the application — ostensibly even come up wit plans to chill together,
The app is more popular than you would expect, and has over 4 million downloads. Of these, 28% hail from France, around 12 percent from South Korea and 8 percent from Japan. Zenly had raised around #35.1 million from a slew of VC firms., prior to its acquisition by Snap. The company actually rebuffed Snap’s offers in the beginning however, it eventually came around and the deal was close last month.
As for how the deal will benefit Snap: Well, we assume that the Snap Maps feature was probably inspired and created using some of the latter’s tech. Also, Zenly is all about having people near each other meet up and then do stuff together. And I am sure there would be a lot of places like restaurants, recreational centers and so on, that would love to advertise themselves right when two people are talking about meeting up.
So yeah, there certainly is a lot of scope in the space. And none of the major players have ventured here either. I mean sure, Facebook has its nearby but, its not reall about meeting up and having fun together. Google Maps are great for this sort of stuff, but they totally lack the social element.
So now, Snap will have Snap Maps and Zenly, both of them with somewhat similar objectives and modus operandi, getting people to find their buddies and do stuff with them. I wonder how much time Instagram and Facebook will take in order to catch up and launch something similar of their own as they already been doing with Snapchat trophies.
