Snap, Inc., Acquires Mobile Startup Zenly

Publicly-traded social media company Snap, Inc. (NYSE:SNAP), announced that it has acquired mobile startup Zenly. Financial terms of the deal were not disclosed by the parties, although TechCrunch reported that the price paid was between $250 million and $350 million in cash and stock.

Zenly is a free smartphone app available on iOS and Android phones. It allows friends and family to follow each other’s tracks and simplify their busy lives. With Zenly, users can see where the people they care for are on a private map.