Snap may have lost a bunch of money last quarter, and by a bunch we mean $2.2 billion. But it’s just a young company trying to build a sustainable business model—and that means adding some “creepy” advertising.
SEE ALSO: Snapchat’s new ‘limitless’ snaps will change everything
Placed, its latest acquisition first reported by GeekWire Monday and confirmed to Mashable by Snap, may help on that mission.
The Seattle-based startup is focused on tracking and measuring consumers locations via their smartphones and using those insights to empower mobile advertising.
Snapchat already offers a “Snap to Store” product that helps advertisers track sales from online to in-store, but that product is limited to only Snapchat and snap data. For example, 80 percent of Snapchat users take snaps in restaurants, according to a study by Greenberg Strategy that Snap commissioned. Read more…
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