Selfie App Snow, Once A Snapchat Clone, Raises $50M From Softbank And Sequoia China
It’s been a while since we heard from Snow, the Snapchat clone app in Asia that Facebook once tried to buy, but today the company behind it has scooped up a $50 million investment from SoftBank and Sequoia China.
Snow was started by Naver, the Korean firm behind popular messaging app Line, and it had proven popular in Japan, Korea, China and other markets in Asia thanks to a focus on localized filters, stickers and features. Not to mention Snapchat’s famous lack of effort in Asian markets.
The Snow app has changed significantly since we last wrote about it, however. It’s no longer a Snap clone.
A major updated that dropped last week removed Snow’s user-to-user communication features and turned it into a dedicated selfie camera app. Without chat, the app doubles down on filters, stickers, augmented reality (AR), and other selfie-related features to make photos and other media that can be exported to social networks or chat groups.
Snow users can now, for example, record a video set to music from artists that include Charlie Puth. There’s the usual array of photo filters, alongside a GIF maker and Instagram-like Boomerang feature.
Snow plans to use this new investment to develop its augmented reality and facial recognition technologies. Its App Store listing shows it is working with Chinese unicorn SenseTime on facial recognition.
It is also aiming to build partnerships and localize its service in China. Outside of Snow, Snow Corp also owns camera apps Foodie and B612, which it acquired from Line, so they may also be pushed in China as standalone apps, although the tech behind them is also shared with the core Snow app.
A Snow representative told TechCrunch that the app now has over 200 million downloads on iOS and Android. The company doesn’t break out specific data for each market, but it said that China is its largest market. In January 2017, we reported that Snow had 40-50 million monthly active users but there’s no further update on the MAU front for now.
SoftBank — and this is SoftBank Group not the Vision Fund — and Sequoia have bought up 20 percent of the shares of Snow’s China business unit via this deal. Line is among Snow’s other backers, via two investments. (By Jon Russell @jonrussell)