IPG has taken a minority stake in Seattle-based mobile attribution firm Placed, the holding company confirmed Thursday. Placed specializes in measuring the impact of mobile advertisements on in-store visits.
The two firms are characterizing the deal as a strategic partnership. The IPG Media Lab will oversee the company's relationship with Placed, which includes introducing IPG clients to Placed's services.
Three non-equity Placed partners were also disclosed today including Collective, dstillery and SessionM. Terms of the deal were not disclosed, although The Wall Street Journal reported today that Placed has raised a total of $13 million to date.
Placed’s measurement offering includes location-driven insights, targeting and attribution. All three services are derived from what Placed says is the largest opt-in consumer location panel in North America, measuring the location of nearly a quarter of a million devices daily as consumers visit brick-and-mortar stores.
The company's research enables agencies and brands to better understand customer traffic patterns influenced by mobile ads, and to tailor relevant communications accordingly. That research is critical as mobile advertising ramps up. Mobile ad expenditures will nearly double this year to $18 billion, according to eMarketer.
"IPG is committed to investing in and working with companies that are changing our industry and making our clients and agencies smarter,” said IPG CEO Michael Roth. “Placed is at the forefront of leveraging data to help our agencies see where we're moving the needle on a client's business."