Polaroid’s camera division will invest $15 million to expand its Vloggers in the US and Europe, the company announced Thursday.
The investment comes a month after Vloggernews first reported that Polaroid was eyeing a $20 million investment.
The Vlogs will expand to the US, Europe and Asia, the announcement said.
The company will use the $15-million investment to expand the company’s footprint in the United States, expand its camera and video manufacturing facilities in the U.S. and expand distribution in the European market.
The expansion will include manufacturing facilities for the Polaroid Camera Camera, Polaroid Video Camera, Vlog Video Cameras, Polarodisc Camera and Polaroid Film Camera, the statement said.
It is unclear whether the new investment will be tied to the recent acquisition of Vloggs competitor Polaroid by digital photo company DxO.
Polaroid is looking to acquire Dxo, which makes a camera lineup of cameras and accessories for consumer and business customers.
In February, Vimeo said it planned to add 360 video cameras to its lineup and plans to start selling them next year.
Polaroids own YouTube video platform is part of that effort.