If Snapchat’s growth remains slow, it needs to maximize how much it can charge per ad by demonstrating they inspire purchases and physical store foot traffic. So today, Snap confirmed to TechCrunch that it’s acquired location-based analytics and ad measurement startup Placed for an undisclosed sum.
Placed will help Snap scale its measurement systems like Snap To Store so advertisers can chart how online Snapchat ads translate into offline return on investment. GeekWire broke the news earlier today.
The six-year-old had raised at least $13.4 million, including a $10 million Series B led by Two Sigma Ventures in 2014. It had measured over $500 million in ad spend for hundreds of partner platforms like PayPal and Pandora. Boosting advertiser confidence in ROI could help Snap grow its revenue, which fell short of expectations in its first earnings call this month and sank its share price more than 20%.
Snap says Placed will continue to run independently at its Seattle headquarters plus its NYC and LA offices with its CEO David Shim reporting…