According to documents filed with the U.S. Securities and Exchange Commission (SEC), Snapchat snapped up Placed for $135.2 million in cash, reports Adweek, which added that ““The company was acquired to enhance advertising effectiveness,” read the filing. “We are currently in the process of valuing the assets acquired and liabilities assumed in the transaction.”
“While Placed is run independently and has separate guidelines in place to protect its data and privacy, the two companies have already hinted at how they might work together to be an additional revenue opportunity outside of ads sold within Snapchat. STX Entertainment, for example, began a lengthy research project this summer to track how all of its media plays a role in driving ticket sales and will evaluate how digital ads compare to television and out-of-home.
“Snap also confirmed that it purchased app Zenly in May, which allows consumers to see where their friends are on a map, for $213.3 million. Shortly after acquiring the French startup, Snap launched a feature called Snap Maps that allows Snapchatters to share their location within the app.
“Two other undisclosed acquisitions were mentioned in the filing for $62.1 million, though a Snap spokesman declined to comment on the companies.”