Placed has measured more than $500 million in media spends to store visits, across many campaigns and partners.
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.
Though the company has not disclosed the terms, Bloomberg reports that the deal was for $125 million. More than 100 employees of Placed will join Snap, working out of their existing offices in Seattle, New York, and Los Angeles. Placed CEO, David Shim will report directly to Snap’s chief strategy officer, Imran Khan.
Operating independently, Placed will continue working with advertisers who are running ad campaigns on other platforms, like Facebook and Twitter.
Shim said, “Over the past 12 months, Placed has measured more than $500 million in media spend to store visits, across thousands of campaigns and hundreds of partners, cementing Placed as the leader in location-based attribution.By partnering with Snap, we will do even more. Still working independently, Placed’s goal continues to be the adoption of a common yardstick that can measure the offline effectiveness of advertising across multiple platforms and publishers.”
Placed will not share its customer data with Snap. Technically and physically their advertiser data will be kept separate.
In a bid to prove that money spent by brands on digital ads is resulting in sales, Snapchat started stepping up its measurement capabilities. Snapchat rolled out Snap to Store, its online-to-offline measurement product, in April 2017, a month after its public offering. This tool helps Snapchat recognize whether a user is using the app in the marketer’s restaurant or store and correlate it to ads previously served to him.
In a similar yet enhanced way, Placed measures store visits and offline revenue generated by digital, TV and out-of-home ads. In August 2016, Placed conducted an independent analysis of online and offline behaviors’ of nearly 2 million double opt-in Snapchat users.