Shim now faces the challenge of steering a fast-growing tech business through uncertain times for data-driven companies. While location tech is a lucrative business that provides crucial insights for brick-and-mortar companies and has yet to hit peak productivity, the industry is also facing concerns of an unprecedented scale about how much it knows about the people who power its insights.
Responsible location intelligence involves practices like “stop data,” to measure users’ location dwell times, and the scale Foursquare achieves in its network of app publishers. Placed is one of the first location data players and a leader in attribution since 2011.
Now that the two companies have come together via acquisition, how does that position Foursquare for interstellar domination of the location intelligence market? It’s about greater capability and scale, say Foursquare’s Josh Cohen and David Shim, our guests on the latest episode of Heard on the Street.
How did a Seattle-based ad tech company move up the ranks to become an industry darling, less than eight years after its launch? And how does the new relationship between Foursquare and Placed, which was previously the biggest competitor to the company’s Foursquare Attribution product, impact the location industry at large?
To find out, we caught up with Placed founder and CEO—and now president of Foursquare—David Shim. Here are his thoughts on what it’s like to go through an acquisition, and how two industry heavyweights who’ve competed for years are finding new ways to work together.
On this week’s Location-Based Marketing Association podcast: Eleven-X + Skyhook, NCR Digital + SAFE Credit Union, Albert Heijn tries dynamic pricing, Foursquare buys Placed from Snap, GrandVisual + NCMEC finding missing persons, Wendy’s partners with GasBuddy for Memorial Day campaign.
Foursquare and Placed are location tech’s new power couple.
The location intelligence firm is acquiring Placed, which had previously been bought by Snap for its top-rate online-to-offline attribution solution, and the two will offer one of the most powerful attribution solutions in the location industry, to be called Placed powered by Foursquare.
As ad tech faces tougher times and a privacy-driven crackdown on data collection and ad targeting practices, more mergers and acquisitions are likely to transform the industry’s terrain. Teaming up and stockpiling as much first-party data as possible, thereby eliminating the need for less compliant modes of data harvesting, will boost the longevity of some firms while others flounder.
In a pure-play model, vendors focus exclusively on a certain number of core competencies. Not only does this help those companies to differentiate themselves from firms with broader offerings, but it also gives brands confidence that the vendor is an expert in the market. As online-to-offline attribution takes off, pure-play vendors are taking the lead in innovation, finding new ways to connect digital campaigns to foot traffic and in-store sales. Here are six vendors making a difference in the space right now.
Nate Sterken: Location data generated from cell phones powers many of the ad-tech products with which we all work every day, from in-person attribution to targeting segments based on visitation patterns. Earlier this year, I got to work with data generated from a completely different source — professional football players.
Marketing technology end-to-end platform RhythmOne announced an expansion of its relationship with attribution solution Placed this week, incorporating linear tv measurements into their already existing partnership.
On this week’s episode of the Location-Based Marketing Association podcast: Innovative Foto, Airport Sherpa, Alaska Airlines goes VR, Cargo raises $22M, Foursquare for Good, Placed teams up with Adobe, Perry Ellis’s Alexa skills.
Street Fight Daily: Instagram Prototypes Giving User Location History to Facebook; Ideal Ad Time—6 Seconds?
TODAY IN LOCAL & DIGITAL MARKETING AND MEDIA… Instagram Prototypes Handing Your Location History to Facebook… Street Culture: Vendasta’s Intention Behind Job Perks and Fun at Work… Six-Second Ads: It’s All About Context…
Adobe Advertising Cloud and Placed, an online-to-offline attribution company, have launched a partnership that will measure whether linear television advertising drives in-store visits. Through the partnership, Adobe will provide the data used to place ads, which Placed then examines to connect ads to store visits.
Online-to-offline attribution isn’t a challenge without a solution. A number of vendors are serving the local market with platforms designed to help local marketers at big brands and multi-location retailers assign the correct value to each point of touch in their multi-touch campaigns. Here are five vendors to which retail brands can turn.
Placed launched television measurement as part of its ad exposure and attribution measuring services today, expanding its omni-channel attribution technologies to the full suite of advertising landscapes.
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology… Google Gives Brands Ads, Data to Compete on Price, Local Inventory… Facebook Will Ban Sellers of Shoddy Products… How Viacom Uses AI to Predict the Success of Its Social Campaigns…
Every two weeks, Street Fight rounds up some of the latest hires and new openings in the hyperlocal marketing, tech, and media industries. This week’s edition includes changes at CARTO, PlaceIQ, Cuebiq, and Placed.
A new study measuring the impact of ad viewability, released just this morning, provides hard numbers confirming that viewable ads perform better than non-viewable ads and can boost the bottom line for brands.
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology… Placed Study Outlines Viewability’s Impact on Store Visitation… IAB Releases Tool to Ease In-App Ad Measurement… Snap Is Testing Commerce with Discover Publishers…
On this week’s LBMA podcast: BAG Networks, Placed, Citymapper, Robomart, REI, BMW acquires Parkmobile, Universal + Amazon Alexa, and WeWork buys Conductor.
A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology… Facebook Launches Express WiFi App for Its Local Business-Operated Hotspots… Why Media Companies Are Shifting Their Attention to YouTube… Why Publishers Are Eliminating Programmatic Silos…