Facebook Acquires Video Filter App Msqrd to square up to Snapchat
Facebook is warming up competition with Snapchat with buy of Masquerade, which makes imaging software that energizes selfies and videos with fun filters, masks and other special effects. Masquerade, a selfie app that will allow user do face-swaps and record silly video animations of themselves and share them across social media. Masquerade Available for Android and iOS.
"Video communication is exploding. At Masquerade, we’ve worked hard to make the video more fun and engaging by creating filters that enhance and alter your appearance. Now, we’re excited to join forces with Facebook and bring the technology to even more people."Nevgen wrote in a blog post.
On Wednesday Minsk, Belarus-based Masquerade announced the sale saying that the company was excited to bring its virtual effects software to Facebook's 1.6 billion users. But Masquerade will independently operate its MSQRD app, which connects with several social media apps. Facebook declined to say the amount it paid.
MSQRD allow users to put filters on their videos so they look like Leonardo DiCaprio, Amitabh Bachchan, various animals or a zombie.
Masquerade's software, Facebook says, is just the latest in a series of new creative tools. The start-up's "world-class imaging technology for video" is a welcome addition, Facebook
Obtaining small new companies has also been a strategy for Snapchat. Its Lenses tool was the result of acquiring Looksery last year for an undisclosed amount. And the deal is starting to pay off. The company has been able to generate revenue from Lenses by inspiring advertisers to pay for animations that mention their brand, like one in which a cooler of Gatorade got dumped on people's heads.
Masquerade was planning to introduce an editing tool that would allow anybody to generate a mask. But it is not clear whether these plans will continue, which included introducing an animations store.
Video customization tools seem to be in high demand; several face and voice-swapping apps, including Dubsmash and Face Swap, are among the most downloaded apps worldwide. Facebook declined to make Masquerade customers available for comment and Snapchat did not immediately comment.
Masquerade's three co-founders including key employees founders Nevgen, Sergey Gonchar and Eugene Zatepyakin are expected to join Facebook's London office.