Snap Inc. has acquired Placed, a startup that measures the offline success of digital advertising campaigns, for about $125 million, according to people familiar with the matter.
Including stock payouts, the full value of the deal could exceed $200 million, said two other people with knowledge of the deal, who asked not to be named because the terms aren’t being disclosed. Snap confirmed the acquisition on Monday, while declining to comment on the price.
The acquisition will help Snap expand its efforts to show that ads on its photo and video-sharing app Snapchat are driving users to stores. Placed, based in Seattle, will continue to operate independently, with David Shim, the startup’s chief executive officer, reporting to Snap’s chief strategy officer, Imran Khan.
Source:: AdAge – Digital