Snapchat is in talks to buy a search startup for over $100 million

homescreen nearby places.PNG

Vurb

A screenshot of Vurb's iPhone app.

Snapchat is buying search startup Vurb in a stock and cash deal totaling over $100 million, according to The Information.

Vurb bills itself as an "experience" search engine that helps people "easily find, save, and do the best things by connecting community recommendations, rich content, and useful services."
Advertisement
The 5-year-old startup is backed by Redpoint Ventures, Tencent, Marc Benioff, and Dropbox CEO Drew Houston, among others.

Snapchat's acquisition will be a 75% stock and 25% cash deal, notes The Information. The report says that Vurb founder Bobby Lo is also getting a multi-year retention package of "around $75 million" as part of the deal.

Vurb's mobile app integrates with services like Yelp for restaurant information and Fandango for movie tickets. The app also has a social aspect that shows Foursquare-like tips and recommendations.
Advertisement

Snapchat declined to comment when reached by Business Insider. Vurb didn't immediately respond to a request for comment.