Placed describes itself as a provider of “location analytics,” able to directly measure the whereabouts of individual consumers through smartphones’ GPS features. Snap plans to maintain Placed as an independent unit with Placed CEO David Shim reporting to Snap chief strategy officer Imran Khan. Seattle-based Placed, founded in 2011, has about 100 employees.
“Still working independently, 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,” Shim wrote in a blog post announcing the acquisition Monday.
In the last 12 months, Placed has correlated store visits with more than $500 million in media spending across campaigns for hundreds of clients, according to Shim. The startup’s system tracks retailers including Walmart, Starbucks, Target, Macy’s and McDonald’s.
Placed had raised $13.4 million in funding from investors including Two Sigma Ventures and Madrona Venture Group, according to Crunchbase.
Among other acquisitions, Snap late last year acquired Ctrl Me, a small drone startup whose customers include Hollywood studios.