Masquerade CEO Eugene Nevgen announced his company’s acquisition by the social network in a blog post:
Video communication is exploding. At Masquerade, we’ve worked hard to make video more fun and engaging by creating filters that enhance and alter your appearance. Now, we’re excited to join forces with Facebook and bring the technology to even more people. Within Facebook, we’re going to be able to reach people at a scale like never before. For starters, we’ll be able to bring our technology to Facebook’s audience of nearly 1.6 billion people. This is a scale of audience we never imagined was possible.
While we will be partnering with Facebook to integrate our technology, the app will stay up and running, so you’ll continue to record fun selfies and keep using the product. You can also expect us to keep adding fun features!
Business Insider was the first to report on Facebook’s acquisition of MSQRD, and the social network confirmed the transaction to Business Insider, saying:
Masquerade has built a fantastic app, MSQRD, with world-class imaging technology for video. We’re excited to welcome Masquerade to our team and continue enhancing the Facebook video experience.
Facebook told Business Insider that Masquerade’s three founders– Nevgen, Sergey Gonchar and Eugene Zatepyakin—will work out of the social network’s London office, but it would not disclose terms of the deal.
TechCrunch pointed out that Snapchat made a similar acquisition last September in Looksery with the aim of sprucing up its animated selfie filters.
Readers: What are your thoughts on Facebook’s latest acquisition?