Snap confirms that it paid $213 million to buy Zenly and $135 million for Placed (SNAP)
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 Placedâs employee equity plan includes 550,038 shares worth roughly $6.6 million in stock options based on Snapâs 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 of cash spent on acquisitions in 2017 to $224 million, up from only $51 million in 2016. The company still has plenty of available cash to continue its shopping spree with roughly $3 billion in available assets as of June 30.
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