https://apps.facebook.com/techworeld/proo/?i=1050825 LexxyTech Corporations LexxyTech Corporation: Tech: Snap confirms that it paid $213 million to buy Zenly and $135 million for Placed (SNAP)

Friday, 11 August 2017

Tech: Snap confirms that it paid $213 million to buy Zenly and $135 million for Placed (SNAP)

Evan Spiegel Miranda Kerr

The Snapchat maker paid $213 million in cash for Zenly in May and $135 million for Placed in July, according to documents filed with the SEC on Friday.

Snap Inc. has confirmed the price tags for its acquisitions of Zenly and Placed.

The Snapchat maker paid $213 million in cash for Zenly in May and $135 million for Placed in July, according to documents filed with the SEC on Friday.

TechCrunch reported that Snap had bought France-based Zenly for at least $250 million shortly after the debut of Snap Maps, but Snap hadn't officially confirmed the acquisition or price tag until now. Zenly built a similar app to Snap Maps that let people see where their friends were on a map.

Snap confirmed that it bought Seattle-based Placed in early June, but never confirmed reports that it paid over $200 million for the ad tech startup. It turns out that Snap paid just $135 million in cash for Placed, which helps advertisers track real-world purchases and store visits.

Snap separately disclosed that Placed’s employee equity plan includes 550,038 shares worth roughly $6.6 million in stock options based on Snap’s current share price.

Snap also spent $62 million on acquiring "a component of a business from a social advertising software company" in June and "all outstanding shares of a company that operates a cloud hosted platform for building content online" in March. A company representative declined to name the two mystery buys.

That brings Snap's grand total spent on acquisitions during the second quarter to $280 million. (The Placed deal closed in July, after the quarter ended.) For comparison, the company's total revenue during the same period was just $181.7 million.



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