Snap buys Ukrainian startup for $8 mln

The agreement was signed in February 2018 and fully implemented in November. The sum of the transaction was about $8 million, LIGA.net reports.

Teleport became famous for the same-name application for changing hair color. It set a record in Ukrainian, Russian and Belarusian App Store, getting more than 1 million downloads in the first 24 hours following the release. It ranked first in the app stores for more than a week.

The project was created by the then 19-year-old Vladyslav Urazov from Odesa. He and his colleague Bohdan Matveyev gathered a team of 30 people from different countries, including Ukraine, France, the UK and Russia. The startup raised $1 million in investment and developed an internal technology for identifying objects on photos and videos.

Urazov became a dollar millionaire when he was 20 years old.

In 2015, Snap bought another Ukrainian startup called Looksery. The deal was said to be done for $150 million.

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