Snapchat might pay $100 million for an emoji company

Snapchat is buying an emoji company for about $100 million, according to a report from Fortune.

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The Canadian company Bitstrips, founded in 2007, is most known for custom cartoon strips that appear in many people's Facebook posts. 

It also makes Bitmoji, increasingly popular personalized emojis based on an avatar you design. Users pick from a variety of face shapes, skin colors and other physical features and can place the avatars in different poses and with different accessories.

Snapchat's plans are still unclear, but Fortune suggested the company could be using Bitstrips to integrate into smartphone keyboards.

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Video includes an image from Getty Images and clips from Bitstrips and Snapchat.

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