Snap Inc acquires location analytics startup Placed for $200M

Snap Inc acquires location analytics startup Placed for $200M

Online ads are not only created to get you into a digital shopping cart, but into a brick and mortar store. In a statement, the company explained: "Connecting online with offline is a problem that the advertising ecosystem has been working toward solving for a long time, and we share that goal".

Snap, a company which relies nearly entirely on advertising for its revenue, understands this.

Snap Inc., has acquired location analytics firm Placed, to better measure whether Snapchat's in-app ads are leading to store visits and offline purchases. The purchase was revealed in a blog post from David Shim, the founder and CEO of Placed.

Terms of the deal for Placed Inc. were not disclosed in an announcement Monday, but Geekwire reported that it was worth up to about $200 million, which would make it Snap's biggest announced purchase. At the moment there's no telling what Snap's plans are for adding the PayPal SDK into Snapchat, and it's possible that it has no plans to use it for anything at this point, but at the moment it's important to remember that there is no confirmation on what Snap may be doing with the SDK right now. Its Placed Insights solution uses a "place graph" to quantify the relationship between people and the physical places they visit, such as retailers, restaurants, banks, hotels and more, with results categorized by demographic segments and geographic regions.

So why did Snap, maker of super-popular messaging app Snapchat, pay so much for a startup that had raised $14 million in its six years of existence?

Placed measures how effectively advertising campaigns drive customers to buy merchandise in-stores.

Placed which employs around 100 people, will continue to operate independently out of Seattle and other offices in NY and Los Angeles, according a GeekWire report that also noted that the deal is one of Snap's most expensive acquisitions.

Shim will continue to lead the team and report to Snap Chief Strategy Officer Imran Khan, the report noted.

Los Angeles-based social media company Snap said it will operate Placed as an independent business. The deal will improve upon some of its own first-party offerings, such as Snap to Store, by allowing advertisers to measure impact across multiple platforms. The company had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. Partner sold revenue was $12.3 million and other revenues were $8.3 million, primarily driven by Spectacles.

Related News:

  • Kuster, Shaheen criticize Sununu's decision not to join US Climate Alliance

    Kuster, Shaheen criticize Sununu's decision not to join US Climate Alliance

    New Hampshire should be spearheading efforts to curb the risky effects of climate change. More states are expected to sign on before the end of the week. "Joining the U.S.

    Donald Trump: Qatar developments happened after my visit

    The eruption of the dispute shocked the neighborhood and threatened deeply intertwined regional trade links and air routes. Trump used the Riyadh visit to urge Arab states to wage wider crackdowns on militant groups, including funding channels.
    Will Fiorentina continue the fight?

    Will Fiorentina continue the fight?

    Another 16 goals brought Lorenzo Insigne, 13 goals went from Jose Callejon and 11 from Marek Hamšík. Forecasts Bookmakers consider Napoli as the main favorite - the coefficient for the victory of the hosts is 1.28.
  • Men charged in deaths at Oakland warehouse fire

    Men charged in deaths at Oakland warehouse fire

    The criminal complaint filed alleges the Almena created a "dangerous condition" and "firetrap" that cost 36 people their lives . Thirty-six people died in the fire in December, making it the nation's deadliest structure fire in more than a decade.
    Share Rating Recap: Ford Motor Company (F)

    Share Rating Recap: Ford Motor Company (F)

    Executive Vice President, Neumann Karl-Thomas, sold 46,472 common shares of General Motors Company (GM ) in the open market. In recent trading day Ford Motor Company (F ) stock showed the move of -1.16% with the closing price of $11.12.
    U.S.  grants Pennsylvania a month extension under Real ID law

    U.S. grants Pennsylvania a month extension under Real ID law

    It applies to states, including Pennsylvania, whose compliance extensions were set to expire today. It establishes federal security standards for state driver's licenses and ID cards.
  • Boys who sucker punched disabled man arrested

    Boys who sucker punched disabled man arrested

    Aggravated assault, simple assault and reckless endangerment charges are pending against all four, according to CBS3. Robin Cooper, who was hit with a brick when he tried to break up a fight at Edwin Fitler Elementary School.
    India launches

    India launches "monster" rocket

    GSLV MkIII can orbit payloads or satellites weighing upto 4,000 kgs into the GTO and 10,000 kgs into Low Earth Orbit. GSLV-Mk III , which The Indian Express recently called a "monster" rocket, certainly lives up to its nickname.

    AMD launches Radeon Pro 500 graphics cards for iMac

    During the WWDC announcement it was briefly mentioned that MacBooks were also getting updated to Kaby Lake processors. No matter; for this particular iMac, the magic is in just what Apple's engineers have managed to squeeze in.
  • Questions surround Florida girl's death; homicide suspected

    Questions surround Florida girl's death; homicide suspected

    Experts who analyzed Jones' remains determined that the 12-year-old died in the first 24 to 36 hours after she went missing. Morgan said the last known communication with Naomi - a cellphone conversation with a friend - was at 12:21 p.m.

    Indian police arrest one for killing baby, raping mother

    The police released sketches of the three accused and have asked people to come forward if they have any information. She told what had happened to the three men, who not only consoled her but even beat up the driver badly.

    Latest Stocks: ValuEngine Lowers Express Scripts Holding Company (ESRX) to Hold

    Deutsche Bank raised its rating on Express Scripts Holding Company to Hold on 04/11/2016 in a reversal from its prior Sell rating. Liberty Mutual Group Inc Asset Management Inc invested 0.11% of its portfolio in Express Scripts Holding Company (NASDAQ:ESRX).


Most liked

London Bridge terror attack: Donald Trump vows to take fight to ISIS
Both men were from the Barking neighborhood of east London , where police raids began shortly after the attacks Saturday night. It added that Ms Archibald had worked in a homeless shelter until she moved to Europe to be with her fiancé.

3 ex-Penn State officials sent to jail in Sandusky scandal
The sentences stem from the scandal, for which Sandusky is now serving a 30-to -60-year prison sentence. He was sacked in 2011, after 45 years, and died a few months later.

Leaked NSA report highlights deep flaws in US elections
But the report suggests meddling went beyond psychological warfare to an attack on voting systems themselves. In Moscow, a Kremlin spokesman categorically denied Tuesday that Moscow had tried to hack the USA elections.

Mexico sugar lobby says still wants dumping probe of US fructose
This 2014 Suspension Agreement contained limits on the amount and type of Mexican sugar that could be imported each year. Last year, Mexico exported 1.1 million tonnes of sugar to the USA , about 40 percent of which was refined.

Scooter turns slugger, ties MLB record with 4 homers
The last time that happened was in 2012! Gennett's grand slam in his next at-bat was the first Wainwright had allowed since 2012. Brewers 5, Giants 2: Chase Anderson pitched 72/3 shutout innings, drove in a run and won his third straight game for Milwaukee.

Senate Prods Trump to Move Israeli Embassy to Jerusalem
The American Israel Public Affairs Committee (AIPAC) and the left-leaning pro-Israel group J Street also hailed the resolution. US President Donald Trump visits the Yad Vashem Holocaust Memorial museum in Jerusalem on May 23, 2017.

Liverpool Closing In On Second Signing Of The Summer
No fee has been agreed for the Egypt global , but more talks between the two clubs are scheduled to take place, sources added. It does not necessarily represent the position of Liverpool Football Club. "They had opened talks in October 2013".

How To Get iOS 11 On Your iPhone RIGHT NOW
Users can easily customize their personal settings , preferences, and iCloud Keychain passwords and securely import contacts. It can also be set to send an automated reply explaining that you're driving, and can be overridden by a passenger.

Western Digital Corp (WDC) Stock Rating Reaffirmed by Royal Bank of Canada
BofA/Merrill raised its rating on Western Digital Corporation to Buy on 28/04/2017 in a reversal from its prior Neutral rating. Caterpillar Inc. (NYSE:CAT) has a market cap of $61.8 billion and over the last 12 months, CAT has gone stronger by 40.19%.

Radwanska loses to Cornet at French Open
That disappointment kick-started a nine-game losing run for Fognini , during which he received brief treatment on a knee issue. The three-time Grand Slam champion has never won at Roland Garros, and never faced unseeded Russian Karen Khachanov, either.

Now Trump wants solar panels to pay for the border wall
Most walls, Trump said, are 14-15 feet high, but his envisioned U.S. -Mexico border wall would be nothing like those barriers. Trump told the lawmakers they could talk about the solar-paneled wall as long as they said it was his idea.

Trump accuses London Mayor Khan of "pathetic excuse" over attack statement
The Prime Minister did, however, decline to comment directly on the attack by Trump, nor did she criticise the President. Khan's spokesperson initially said that the mayor would not respond, as he has " more important things to do".

Djokovic loses to Theim at French Open
I might play a lead-up event; I might not. "At the same time, I have responsibility to the game itself, towards others. But he refused to blame Agassi, who returned to the United States on Friday after watching only three of his matches.

Tomorrow, former FBI director will testify before Congress
The interaction with Coats indicates that Trump aimed to enlist top officials to have Comey curtail the bureau's probe. Comey says he replied that he wanted to serve out his ten-year term and "was not on anybody's side politically".

Bets for upcoming Southampton vs Arsenal fight
Neither Arsene Wenger nor his players could afford themselves to lose another match if they still want to be in the top four. Arsenal is still keeping the dream to be qualified in Champions League after the victory over Manchester on Sunday.