NewsDio.com Staff : Foursquare Labs Inc. is merging with yet another location-focused startup, Factual Inc., in an all-stock deal, the companies said on Monday.
The financial terms of the deal weren’t disclosed. The announcement comes less than a year after Foursquare bought Placed, another purveyor of location data and software, from Snap Inc.
Foursquare, which first gained fame for an app that allowed people to share their location with friends, pivoted in recent years to providing location data and software to businesses including marketers and ad agencies, helping them see how well their ads steered people to their stores and restaurants.
While the Placed deal improved Foursquare’s ability to gauge the effectiveness of ads by measuring foot traffic, the merger with Factual will build on its ad-targeting capabilities, executives said.
Factual’s location software helps marketers home in on customer segments, for instance, people who have visited certain car dealerships in the last 30 days. Factual or Foursquare’s data is already integrated into the digital advertising platforms of companies that include Oracle.
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