SnapChat announced May 2, 2015 that they have acquired AddLive to help build and power its new cross-platform video chat service. While originally the deal terms where not announced the terms were leaked in an email exchange between Snapchat board member Michael Lynton and Snapchat’s executives revealed that SnapChat paid $10 million in cash and $20 million in RSUs and employee incentives. The leaked exchange emerged as part of a massive hacking of Sony emails; Lynton is the CEO of Sony Pictures Entertainment.
AddLive is a simple, developer friendly way to integrate live video and voice into applications using Web Real-Time Communications (WebRTC). AddLive’s goal is to empower the developer community to build tomorrow’s real-time applications by giving them easy access to this technology.
Snapchat is a photo messaging app that allows users to take photos, record videos, add text and drawings, and send them to recipients. Snapchat is a fast way to share a moment with friends.
You can find more information about SnapChat’s acquisition of AddLive on the Verge.