Snapchat maker Snap acquired consumer tracking firm Placed, as confirmed by David Shim, Founder and Chief Executive Officer of the latter. Shim on Monday took to the company's official blog to provide a brief announcement on the matter, adding that Placed will continue operating in an autonomous manner and pursuing the same goals it did so far. Originally founded in early 2011, Placed specialized in tracking software that monitors marketing-related consumer behavior and identifies patterns that are difficult to track, including offline sales and far-reaching effects of advertising of numerous publishers on a wide variety of platforms. Shim stated that he's hoping Placed's new venture with Snap will lead to more powerful and innovative tools for marketers and publishers but didn't provide more details on the matter.
The Venice, Los Angeles-based social media giant has yet to share more information on the acquisition in any official capacity, with neither party confirming the value of the deal or revealing when the actual transaction is scheduled to take place. Given Snap's previous modus operandi, the company will likely officially acquire Snap by the end of the year, though Placed's business model isn't a comprehensive basis for estimating its potential value. Some industry sources previously said that the firm was acquired for over $200 million and if that figure is somewhat accurate, the deal itself likely wasn't of the all-cash variety and instead includes Snap's stock. Given how Snap is now a publicly traded company, the Internet firm will have to disclose general details on its latest acquisition in the near future. Placed's workforce is currently over a hundred people strong, and all of its employees are planned to continue working for Snap going forward. The firm's new parent reportedly isn't looking to introduce any major changes to its everyday operations, with Placed seemingly getting to keep its New York City, Seattle, and Los Angeles offices operational.
The news of Snap's latest acquisition comes shortly after the firm reportedly absorbed Californian imaging drone startup Ctrl Me Robotics for under $1 million. The company has been rather busy with mergers and acquisitions in recent months, having originally started intensifying its efforts on this front in the run-up to its initial public offering (IPO) that saw the social media giant raise $3.4 billion in early March.