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).
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;