Foursquare Acquires Rival Placed Following Record $150M Funding Round
Location technology company Foursquare purchases its biggest competitor Placed from Snap Inc. to dominate the ad attribution market. The deal follows a massive $150 million funding round to expand the company's independent location platform.
Foursquare makes its first major acquisition by purchasing Placed from Snap Inc. shortly after securing a record $150 million investment led by The Raine Group. The financial terms of the deal remain undisclosed, but the purchase immediately eliminates Foursquare's biggest competitor in the location attribution space. Placed founder and CEO David Shim transitions into the role of president of Foursquare as part of the agreement.
This strategic combination creates a massive footprint in the location analytics market, as the two companies have historically measured over $3 billion in ad-to-store visits. The newly unified product, rebranded as Placed powered by Foursquare, now boasts more than 450 measurable media partners. These high-profile partners include major tech companies like Twitter, Snap, Pandora, and Waze, while over half of the Fortune 100 currently maintain partnerships with either Placed or Foursquare.
Foursquare plans to use the new $150 million funding to fuel this acquisition and accelerate research and development across its five core business areas. CEO Jeff Glueck emphasizes that this capital cements Foursquare's position as the world's most trusted, independent location technology platform. The company continues to evolve far beyond its original consumer check-in app roots, focusing heavily on developer tools, analytics, targeted audiences, attribution, and consumer innovation.