One of Snapchat’s biggest issues is many users complain that it is difficult to search within the platform. As a result, the company is finalizing the acquisition of mobile search app Vurb for over $110 million worth of cash and stock. According to reports, Snapchat will pay 75 percent of the acquisition amount in stock and 25 percent in cash.
Moreover, retention bonuses worth $75 million are being offered to keep Vurb CEO and founder, Bobby Lo. In 2104, Vurb won the Disrupt NY Startup Battlefield competition. Vurb was designed to focus on browsing. To illustrate, a user can find out about a movie along with a nearby restaurant and theater playing the film. Vurb can also deep-link users to Uber and Google Maps. Furthermore, it comes with an instant messaging feature to make plans with friends. Snapchat has not stated how they will use Vurb after the acquisition. In March, Snapchat purchased Bitstrips for $100 million.Opinions expressed here are the opinions of the author. Influencive does not endorse or review brands mentioned; does not and can not investigate relationships with brands, products, and people mentioned and is up to the author to disclose. VIP Contributors and Contributors, amongst other accounts and articles, are professional fee-based.