Snapchat buys Bitstrips for $100 million: Report
Snapchat has reportedly bought instant comic maker Bitstrips for $100 million cash and stock deal. Founded in 2007, Bitstrips is best known for its Bitmoji app, which lets users create an avatar of themselves to share on social media and over text. Snapchat recently raised $175 million in fresh funding from Fidelity Investments, valuing the messaging app at $16 billion.