Facebook has now acquired the popular 'face-swapping' app MSQRD for an undisclosed sum. Post this deal the social media giant will integrate some features of the app onto their own products. MSQRD is an app that adds some fantastic filters to the images generated by your smartphone camera.
Speaking of the acquisition to TechCrunch a spokesperson from Facebook stated, "Masquerade has built a fantastic app, MSQRD, with world-class imaging technology for video. We're excited to welcome Masquerade to our team and continue enhancing the Facebook video experience."
Masquerade of MSQRD as they are popularly called has been paying impetus to their filter option in video thereby giving it an edge over its competitors. It's worth noting that Facebook wasn't ready to provide any insight into the financial aspect of the acquisition. However we at GizBot have dug up some cool facts regarding MSQRD.
May be triggered by Snapchat's acquisition of Looksery
Back last year popular messaging service Snapchat acquired a two-year-old startup Looksery for a sum of $150 million according to a report by Business Insider. The San Francisco based startup, Looksery had similar features to what is seen in MSQRD and had topped about 3 million downloads.
MSQRD was initially rumored to be taken over by Apple
Interestingly an investor based out of Russia, Eugene Gordeev had posted that MSQRD is being acquired by Apple Inc. for a sum of $117 billion. However, it turned out to be a pure hoax!
MSQRD is based out of Belarus
Led by Eugene Nevgen, MSQRD is run by a part company called Masquerade Technologies. Well, the most surprising fact though is that the company is based out of Belarus, which is quite strange considering the fact that not much high flying tech startup have cropped up from the European country.
MSQRD app was released just a few months back
The Belarusian startup company rose by leaps and bounds in the past few months. Many won't be even aware that the MSQRD app was first released on the Playstore in December 15. Hence it quite astounding to see the company grow in the past few months, only to be acquired by the social media giants Facebook for an undisclosed sum.
App not going down from the Playstore anytime soon
While the key members of the MSQRD team namely Eugene Nevgen. Sergey Gonchar and Eugene Zatepyakin will relocate to its London office, the other member will continue operations from their Belarus office. In their official blog pot MSQRD has also officially confirmed that Facebook will integrate their features onto their website, but that doesn't mean that their own app will cease to exist.