Report: Snapchat Acquires Zenly For $250M To $350M

Venice, California-based Snap Inc., the parent company of Snapchat, has acquired social app startup Zenly, in a deal reportedly worth $250M to $350M in cash and stock. Zenly is the developer of a social, location sharing app which lets you track where your friends are at any time. Snapchat just rolled out a new, location sharing feature for Snapchat based on Zenly's technology, but will continue to operate Zenly as an independent service. Zenly offers up both iOS and Android version of its social location sharing app.