Marketers see Foursquare's acquisition of Snap's Placed as a game-changer for location-based advertising but question how it'll all work
Summary
Backed by a fresh $150 million in funding led by The Raine Group, Foursquare wants to dominate location-based advertising that marketers use to target and measure campaigns. Read more:It changes the dynamics of the industry: Foursquare wants to own location-based advertising with its acquisition of Snaps Placed and potentially others" "Clients and investors want to see a clear leader and eventually an independent location-tech, public company that can be an alternative in so many areas — not just in marketing and advertising, but in health and real estate and augmented reality and autonomous vehicles," said Foursquare CEO Jeff Glueck. But location firms use different measurement methods, which makes it complicated to use them, said Barry Lowenthal, CEO of The Media Kitchen. "The location targeting and measurement space is immensely crowded," said Jay Friedman, president of programmatic advertising agency Goodway Group. Similar to the challenges under Snaps ownership, Tesoriero also said its not clear how Placed will remain independent if it ends up measuring the same ads that Foursquare sells.
Classifications
AskAI Classifications
LabelsLinked Companies
