Snap Inc. has confirmed the price tags for its acquisitions of Zenly and Placed.
The Snapchat maker paid $US213 million in cash for Zenly in May and $US135 million for Placed in July, according to documents filed with the SEC on Friday.
Reports surfaced saying that Snap had bought France-based Zenly after the debut of Snap Maps, but Snap hadn’t officially confirmed the acquisition 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 $US200 million for the ad tech startup. It turns out that Snap paid just $US135 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 $US6.6 million in stock options based on Snap’s current share price.
Snap also spent $US62 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 a whopping $US410 million. For comparison, the company’s total revenue during the same period was just $US181.7 million.
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