Placed operates using an opt-in mobile model to keep tabs on anonymized store bound foot traffic for brands, a gambit which has seen it grow to the extent that it now oversees customer movements at 600m locations every day.
Despite the change in ownership Snap avers that Placed will continue to operate as an independent entity, although Placed founder and chief executive David Shim will report directly to Snap chief strategy officer Imran Khan. In doing this, both firms will avoid combining their respective data sets by putting in place a series of data sharing, privacy and security guidelines.
Snapchat hopes its latest purchase will serve to bolster its Snap to Store offer which enables marketers such as 7-Eleven and Wendy’s to keep track of the volume of consumers who walk into a store within one week of viewing their ads on Snapchat.
Commenting on the takeover Snapchat said: “Connecting online with offline is a problem that the advertising ecosystem has been working toward solving for a long time, and we share that goal. People use apps like Snapchat when they are out in the real world—not just when they are sitting behind a computer screen. Progress in this area will drive amazing results for advertisers and our community.”