Social media platform Twitter has announced that it has acquired Chroma Labs, a platform that offers photos and video editing service for Facebook, Instagram, and Snapchat stories. The company has not revealed terms of this deal. With this acquisition, employees of Chroma Labs will join Twitter’s product, design and engineering teams.
While Twitter has not yet revealed if it plans to launch a feature for ephemeral posts, we’ll have to wait to see if that becomes a reality. In a tweet, Kayvon Beykpour, product lead at Twitter said that the team will work “to give people more creative ways to express themselves on Twitter.”
On the other hand, Chroma Labs announced on Twitter that the company is shutting down its business “effective immediately.” However, those who have installed the application on their smartphones can keep using the app Chroma Stories as long as it is installed.
Chroma Labs was founded in 2018 by John Barnett, Alex Li and Joshua Harris, all three of them previously worked on products at Facebook. It had raised a seed round from Sweet Capital, Index Ventures, and Combine VC.
The team of Chroma Labs wrote on its website: “We set out to build a company to inspire creativity and help people tell their visual stories. During the past year, we’ve enabled creators and businesses around the world to create millions of stories with the Chroma Stories app. We’re proud of this work, and look forward to continuing our mission at a larger scale – with one of the most important services in the world.”
The company has clarified that it will only be updating the application if a future iOS update breaks it. The firm has also confirmed that the application won’t receive any new features.