Snap Inc. has acquired location data startup Placed Inc. of Seattle for a reported $200 million.
Placed measures how effectively advertising campaigns drive customers to buy merchandise in-stores. The software works by tracking consumers’ smartphone locations and inferring the impact of television advertising or digital advertising on their behavior when they walk into brick-and-mortar stores.
Many of Snapchat’s advertising products, including its geofilter feature, are activated at specific locations. The Venice company also recently released an analytics tool called Snap to Store that is similar to Placed’s advertising attribution technology.
Placed plans to keep its operations in Seattle. It has raised about $15 million in venture capital since its founding in 2011.
The companies did not disclose an acquisition price. Geekwire attributed the $200 million deal figure to a “reliable source,” while Bloomberg said it was worth $125 million and could rise based on “certain future contingencies.”