# Bitstrips

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bitstrips

- Industry: Internet
- Headquarters: Toronto, Canada
- Website: www.bitstrips.com
- Total disclosed funding: $8M
- Latest round: Series B (Oct 29, 2014)
- Investors on record: 2

## About

Bitstrips Inc. is a digital platform focused on creating personalized emoji avatars, enabling users to enhance their digital communications through self-expression in a visually engaging manner.Founded in 2007 and headquartered in Toronto, Canada, Bitstrips Inc. specializes in avatar creation. The company transitioned its business model after being acquired by Snap Inc. In March 2016, the acquisition totaled USD 64.2 mn, led by Snap Inc. and supported by investors including Yahoo Inc. The CEO and founder is Ba Blackstock, who has a history of entrepreneurial ventures, although specific details on previous companies are not available.Bitmoji, developed by Snap Inc., is the core product of Bitstrips Inc., allowing users to create personalized emoji avatars. These avatars enhance digital communications across platforms like Snapchat and iMessage. The service includes collaborative tools like Friendmoji for shared avatars with friends and augmented reality features like 3D Bitmoji World Lenses. The primary user demographic includes Millennials and Gen Z, who actively engage on social media and messaging apps across major markets such as North America, Europe, and parts of Asia.Snap Inc. generates revenue through its digital products and services, with Bitmoji offered as a free service to encourage user engagement. Revenue streams typically include advertising and promotional features within Bitmoji. Additionally, premium offerings like geofilters contribute to monetization through targeted advertising aimed at its substantial user base, capitalizing on high user engagement.Following the acquisition by Snap Inc., Bitstrips is expected to further develop its product offerings. While specific upcoming products have not been detailed, the company is likely to focus on enhancing its Bitmoji features and exploring augmented reality applications. The recent acquisition funding of USD 64.2 mn will support these initiatives, possibly facilitating entry into new geographic markets and bolstering user engagement through innovative features. Snap Inc. aims to strengthen its foothold especially in social media markets and mobile messaging applications.

## Funding rounds

- Series B, Oct 29, 2014, $8M — Kleiner Perkins, Horizons Ventures

## Investors

- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B
- Horizons Ventures — Series B