The parent company of SnapChat (Snap) recently acquired an analystics firm, Placed, for a reported $125 million. Placed measures store visits, revenue generated from digital in the offline world, and other popular ad options.
This has the potential to be a very good move for SnapChat since so many major advertisers are demanding more transparency and improved tracking. Procter & Gamble, for example, want to be able to see how their online marketing dollars are translating into offline sales, which is what many major brands are looking for.
SnapChat has already been working on creating an internal system that identifies when a user is in a advertiser location, and then serve them up the proper ads. Adding the Placed technologies to their systems will quickly push them to the forefront of this type of service.
Placed CEO David 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.”
Their continued growth made them an attractive acquisition option, and SnapChat quickly took advantage. SnapChat will have the company continue to operate as a stand-alone entity, at least for now. All of the employees of Placed will also be able to remain in their current roles after the acquisition has been completed.