Buying Placed, Snapchat Spends $125M+ for Location Intelligence
June 6, 2017 | Contributed by: Greg Sterling
As we’ve argued previously, location intelligence is becoming the centerpiece of digital advertising, from audience targeting to competitive intelligence and attribution. More evidence of that comes in the form of Snapchat’s acquisition of Placed for more than $125 million.
Placed is a location analytics platform that, among other things, measures offline store visits. I recently did a podcast interview with CEO David Shim (below) about how location intelligence is impacting the market and business models.
The deal is Snapchat’s largest acquisition to date and will presumably be used to prove that its ads are effective at delivering store visits and other offline actions. But Placed’s capabilities are broader could also help offer enhanced audience targeting to Snap.
Placed is based in Seattle and founded in 2011. Shim will reportedly remain with the company.
Placed is one of a number of companies that offer location analytics and insights. Google, Facebook, xAd, PlaceIQ, NinthDecimal, UberMedia, Blis, Cuebiq, Empyr and others offer online to offline attribution, analytics and targeting. Google heavily emphasized store visits and store-sales tracking at its recent Marketing Next event in San Francisco.
Placed is also the third party measurement company behind recent “pay-per-visit” models launched by xAd and Retale.
Location intelligence and the future of location will be on full display at the Place Conference in New York in September. Placed, Facebook and Google will be among the dynamic lineup of speakers. This is a must-attend event for everyone in the location-based media and marketing arena.