It was recently revealed that Snap, a major social media and technology company, quietly acquired 3D-scanning startup Th3rd last year.
Th3rd is a 3D-scanning startup based in San Francisco, California that was founded in 2017. The company specializes in creating 3D-scanned objects and imagery that are used in digital experiences. In addition to 3D scanning, the company also offers additional services such as photogrammetry and motion capture technology.
The acquisition by Snap is seen as a major move by the technology giant to capitalize on the growing demand for 3D-scanned objects and photography as companies from a wide range of industries look to add more realistic elements to their digital marketing and presentation efforts. 3D scanning is also becoming increasingly popular for virtual and augmented reality applications, making it a popular area for venture capital investments.
The terms of the acquisition have not been released, but reports suggest that Snap paid over $30 million for the acquisition. With this acquisition, Snap will now be able to offer a range of 3D services that are more accessible to its customers. This is a great move for the company, as it will allow it to gain a foothold in a growing market before its competitors.
Snap’s purchase of Th3rd reflects the changing landscape of the technology industry. Companies are increasingly turning to innovative startups as they seek to stay ahead of the competition. While the full implications of this acquisition are yet to be seen, it is a clear sign that 3D scanning and virtual reality technology will be a major focus for companies in the future.
