Snapchat may buy personalized search app Vurb for more than 100 million

Snapchat Inc. is in the process of acquiring personalized search app Vurb, according to people familiar with matter. The Venice entertainment app maker would spend more than 100 million in cash and stock to purchase the San Francisco start-up, said a source unauthorized to speak publicly about the deal. The transaction hasn't been finalized, multiple sources said. Vurb co-founder and Chief Executive Bobby Lo would receive 75 million over several years -- separate from the initial purchase price -- if he stays at Snapchat. The tech news website the Information first reported details of the deal Monday.