Snap Inc., the camera company responsible for Snapchat, is expanding its expertise. Mobile is headed towards the largest online advertising market and Snap needs the advantage of being able to more accurately measure the effectiveness of ad campaigns. For this reason, they bought out Placed for at least $125 million. Placed can track the effectiveness of online ad campaigns and determine if they are responsible for getting consumers into stores and making actual purchases.
The advantages Placed can offer Snap include:
- Determining if Snapchat advertising is effective
- Entice more advertisers to add snap as a platform
- Snap may now be able to compete with Google and Facebook
- Snap has the potential to increase its revenue
Snap fell short of its estimates last quarter and is in a frenzy to keep up with the complexities of the interconnected web. Will Snap keep up with Google and Facebook now that they have Placed under their belt? Read more with Business Insider.
Interested in reading more stories like this? Stay up to date with the digital marketing world and sign up for our weekly newsletter.