Snap continues its acquisition spree with video animation startup

Snapchat's parent company confirmed to Axios that it has acquired AI Factory, the Ukrainian startup it worked with to develop its new "Cameos" feature that maps selfies onto videos, deepfake-style, a deal first reported by Ukraine tech publication AIN.UA.

Why it matters: Snap has a long history of smartly acquiring small, innovative startups to feed its product development. In 2015, Snap acquired AI Factory founder Victor Shaburov's previous company, Looksery, to use its facial feature detection and manipulation tech as the basis for one of Snapchat's most successful features, "Lenses."