According to Geekwire: Snapchat parent Snap has acquired Placed, a Seattle-based startup that operates a consumer location analytics platform.
GeekWire first learned of the acquisition last week, and made inquiries to the company, which at the time did not want to discuss the deal. Sources close to the deal pegged the purchase price at more than $200 million, marking a potentially large outcome for the original investors and early shareholders. It’s also one of Snap’s most expensive acquisitions to date.
Founded in 2011, Placed raised $13.8 million from Madrona Venture Group and Two Sigma Ventures. Board members include Shim; Matt McIlwain; David Joerg; and Brian McAndrews.
Placed CEO and co-founder David Shim will stay at the company, and will report to Snap Chief Strategy Officer Imran Khan.
“Over the past 12 months, Placed has measured more than $500 million in media spend to store visits, across thousands of campaigns and hundreds of partners, cementing Placed as the leader in location-based attribution,” Shim wrote in a blog post shared with GeekWire on Monday afternoon. “By partnering with Snap, we will do even more.”
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