Snap, the parent company of Snapchat, has acquired location-based analytics and ad measurement platform Placed. The terms of the deal were undisclosed.
Placed provides advertisers with data and insights surrounding real-word store visits by leveraging ‘directly measured locations and patent-pending statistical models’.
“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,” said David Shim, Placed CEO in a blog post. “Together, we believe we can drive much better results for advertisers and publishers.”
Placed will continue to operate independently with its over 100 employees still reporting to Shim. Shim, however, will now report to Snap CSO Imran Khan.
The acquisition comes a few months after Snap began testing its Snap to Store tool. Snap to Store enables advertisers to leverage location-based data from the Snapchat app, and see if their ad campaigns a driving the desired levels of foot traffic.
It works by tracking people who have viewed their friend’s Snaps featuring a sponsored geofilter. Snap then analyses the number of people that visit the store in seven days of viewing the Snap, and compares it to the number of those that didn’t see the Snap, to determine visitation lift.