SocialStudio, a US-based app developer backed by internet company Google’s investment arm Google Ventures, acquired peer-to-peer car sharing platform RelayRides on Friday for an undisclosed sum.
SocialStudio’s product portfolio includes photo sharing app Fade and JumpCam, which enables users to shoot and collaboratively edit short video clips.
The company’s 12-strong team, including chief executive David Stewart, have joined RelayRides. Stewart has been named as RelayRides’ vice president of business development and will oversee strategic partnerships.
The rest of SocialStudio’s staff will work on customer acquisition and developing dynamic pricing recommendations as part of RelayRides’ team.
Google Ventures and venture capital firm Trinity Ventures, both also investors in RelayRides, provided $2.7m in series A funding for JumpCam in 2013.
Andre Haddad, chief executive of RelayRides, said: “The acquisition of SocialStudio brings a welcome infusion of new talent to RelayRides during an exciting period of growth.
“The SocialStudio team is already making major contributions enhancing our user experience. While the SocialStudio team helps address some immediate needs, we continue to look for additional high-quality talent to join us in turbo-charging our rapidly growing marketplace.”