Foursquare buys Placed focusing on geo-context attribution

Foursquare this week announced that is acquiring Placed from Snap.  A deal backed by $150M investment, led by The Raine Group, to deepen  its location technology platform. According to Snap, 500 brands rely on  Placed Attribution today, including Uber, Twitter, Samsung, Apple,  Hilton, Accuweather, TripAdvisor, Tencent, and 150,000 other registered  apps.

Foursquare says the acquisition agreement has been signed and will  close shortly. Placed enables Forsquare to do in store visit attribution  across digital, OOH and TV.

David Shim, founder of Placed, will join the executive team of  Foursquare, as well as his team. Foursquare will have more than 350  employees (with over 40% of them in engineering and data science).

Foursquare CEO Jeff Glueck, with David Shim, former CEO of Placed, now President of Foursquare, in NYC

On the announcement, Foursquare also shared key areas where the attribution services will be developed:

• Developer Tools, to build smarter apps and customer engagement, using geo-context;
• Analytics, including consumer insights for planning;
• Audiences, so businesses can reach the right consumer segments for their message;
• Attribution, to test and learn which messages, segments and channels work best;