Social media influencer Snap has purchased Placed, a Seattle tech firm that shows if online ads make people buy stuff in real life.
Snap Inc. is the parent company of Snapchat, the mobile app where copy self destructs.
Its filters make the normal act of sending messages both bizarre and playful.
Have you ever wanted to see yourself as a dog with a really long tongue?
Not to worry. As one of its most popular filters, Snapchat has you covered.
Yet, Snapchat is more than a fun spin on normal ways of contacting friends and family.
It’s also a bold collector of promising startups.
Right Placed, at the right time
Placed is a leader in collecting location data to help firms make sense of their marketing activities.
Thus, it could give Snap valuable intel about whether ads on its platform convert into a real life purchase.
Consequently, Snap bought it earlier this week to check if their marketing behaviour was influencing users in off of the app.
David Shim, founder and CEO had this to say in a blog post:
“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.”
Snap’s belief in Placed’s usefulness comes in a pay out of $200mn (£154.87).
Additionally, the startup’s stats so far are promising.
Over a year long period it has tracked up to $500mn in ad efforts to bring users to stores.
Thus, Placed has successfully positioned itself as a pioneer of location data for hundreds of campaigns and partners.
Although now part of Snap, it will still work independently.
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