Tracking offline conversions is every social media marketer’s dream. That’s what Placed does, and now it was acquired by Snap.
Being able to measure the effectiveness of social advertising has always been a challenge for retailers, especially when trying to understand how they affect in-store sales. Facebook has been working hard on this subject, but Snap has taken a smart shortcut by acquiring a company that already knows how to do it.
Snap hopes that this new offering will attract even more advertisers to its platform. After all, it is no secret that marketers will be keen to invest more if they can can link real sales back to an online ad.
According to Bloomberg, the deal was made for $125 million, and all employees from Placed are now joining Snap, under the continuing leadership of Placed CEO David Shim who will, himself, report to Imran Khan, Snap’s chief strategy officer.
Featured image: Recode
You might also like
More from Snapchat
Snapchat's free Snap Focus course helps you master advertising on its platform and complete your Snapchat Advertising Essentials certification.
At Snap's Partner Summit, Snapchat debuted Minis, a collection of lightweight third-party apps that come to life inside the app's …
Snapchat has announced it will no longer promote Donald Trump's Stories on its Discover homepage. His public account won't be …
Snapchat has announced a new augmented reality lens created in collaboration with world-renowned British artist Damien Hirst.
The entire cast of long-running hit sitcom The Fresh Prince of Bel-Air reunited on Will Smith's original show on Snapchat.
Snapchat added App STories to the Snap Kit toolset for developers to begin incorporating Snapchat Stories into their apps.