Snap Acquires Location Analytics Firm

Snapchat's parent company Snap has acquired the location analytics firm Placed. According to Bloomberg, the acquisition cost 125 million US dollars, although this was not confirmed by Snap itself. Advertisers have recently stepped up pressure on platforms such as Snapchat to prove that they can capably show accurate measurements and how digital ads relate to real-world purchases. The acquisition of Placed appears to be a move to react to the pressure, after it also recently rolled out its own online-to-offline measurement product called Snap to Store. Placed will continue to operate as a separate company but is likely to help Snapchat track users offline, record if they have seen physical or digital ads, before then targeting them with relevant ads within the app.