Snap bought the application of 20-year-old Ukrainian Teleport, which changes the hair color and background 

For 8 million dollars.

@reginatodorenko (Regina Todorenko)
@reginatodorenko (Regina Todorenko)

American company Snap Inc., which owns the social network Snapchat, bought a Ukrainian startup Teleport, which developed an application for changing hair color using neural networks. This was reported by with reference to the source; this was confirmed by co-founder and mentor of the project Victor Koch.

The amount of the transaction was 8 million dollars. The companies signed an agreement in February and fully fulfilled their obligations by November.

Snap transferred a team of five key Teleport developers, as well as co-founder of the project, Sergey Demyanov. They have already moved to Los Angeles and London, said Teleport co-founder and CEO Vladislav Urazov, who became a dollar millionaire in 20 years. He himself intends to open a fund and invest in AI start-ups.

Teleport works on the basis of neural networks and allows you to process photos so that the hair color or background changes. About the startup has become widely known in August 2017.

The application for the day since the release scored more than a million downloads and more than a week occupied the first line in the App Store. Teleport gained fame largely due to the massive support from popular bloggers and artists.

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