TECH CRUNCH - Feb 16 - Tinder is acquiring an L.A.-based startup called Wheel, which had developed a social network for sharing Snapchat-like videos. Wheel was originally founded in 2015, when it was then called Ferris. The company had raised $2M in 2015. However, Wheel did not became a breakout success. According to data from App Annie, the app was ranked #574 in the Photo & Video category on the App Store. Following the acquisition, Wheel's founding team will join Tinder, including CEO Paul Boukadakis, CTO Chris Shaheen, Joey Boukadakis and Brian Daugherty. Boukadakis will be VP of Special Initiatives at Tinder, and Shaheen will be a senior engineer. Tinder did not share what specific plans it had for video.
by Sarah Perez
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