Like the Snapchat app continues To grow, the company is turning to the open source community to help further improve its technology infrastructure. This morning, Snap announced the acquisition of the Toronto-based company. KeyDBdeveloper of an open-source, high-performance database for an undisclosed amount.
The startup’s six-person team, including its co-founders John Sully and Ben Shermel, will join Snap’s infrastructure team post-closing and work to improve Snap’s caching technology and its significant engineering workload, the company said in a statement.
BUT Y with Combinator support launch, KeyDB touted its solution as a faster alternative to Redis, focusing on things like multithreading, memory efficiency, and high throughput. Snap sees an advantage in leveraging the technology and expertise of the team within the company to help the company reduce operating costs between teams and free up bandwidth for engineers. It also allows Snap to focus more on building other core Snapchat experiences, the company says.
A Snap spokesperson told TechCrunch that KeyDB technology will be widely used across all of Snap’s divisions, including monetization platforms and Spotlight. The latter is a product of Snapchat’s short videos and competes with TikTok, which is now a key part of Snap’s business.
The company noted that KeyDB’s multi-threaded database uses Redis data structures, flash storage and replication and runs at Snap scale. It is also an open source project that has a large community with over 3 million public downloads.
Luckily for other engineers, Snap says it will continue the open source project and also open up KeyDB Pro and Enterprise offerings after the acquisition. We were told that this would allow the company to continue to benefit from broader community contributions, but would also help Snap better establish its presence in the open source community and build relationships with more developers.
Additionally, as Snap’s engineers consolidate their internal improvements into the KeyDB project, the company believes it will help address the concerns of the wider community.
In the meantime, the KeyDB team will continue to operate from Toronto, where Snap already has a large office that includes the Bitmoji team, among others.
Snap has been very active over the past year or so, with many of its recent mergers and acquisitions focusing on core technologies. For example, in 2021, Snap bought a 3D map developer. Pixel8earth for $7.6M; a launch of Fit Analytics fitting technology behind $124 million; as well as triggering location data StreetCred; controlled mind headband manufacturer NextMind; and launching AR to power glasses, wave optics, behind $541.8+ million.
The company had disclosed FitAnalytics and WaveOptics are priced in the SEC filing due to their size, but are said to total just $266.1 million across all 2021 acquisitions combined. The company will discuss the price of KeyDB, but Crunchbase reports the company received $1.3 million in seed funding.
Credit: techcrunch.com /