Snap, Inc. Has Spent Over $400 Million on Acquisitions This Summer

Flush with IPO cash, Snap (NYSE: SNAP) has gone on a summer shopping spree.

In June, Snap unveiled a new feature called Snap Map, which allows Snapchatters to track the locations of friends in real time. Many noticed that the feature looked rather familiar and resembled an app made by Zenly. Shortly thereafter, it was reported that Snap had acquired Zenly for an estimated $200 million to $350 million.

Source: Fool.com