As companies that can track movement continue to make a huge impact during the COVID-19 crisis, two location data companies — Foursquare and Factual — merged Monday to offer solutions in audiences, attribution, developer tools and point-of-interest data.
The deal represents one of the biggest moves in the location technology space. It is underpinned by more than $150 million in combined revenue in more than 20 global markets. Clients include Microsoft, Uber, Samsung, Snap, Twitter, and more than half of the Fortune 100 companies.
Through the merger, the location data will be integrated and will become accessible within platforms that represent more than 80% of all programmatic ad spend and wil be supported by a community of more than 200,000 developers using geo-contextual developer tools.
David Shim will remain as Foursquare’s CEO. Dennis Crowley, Foursquare cofounder, and Gil Elbaz, founder and CEO at Factual, will serve on the executive team and board.
“Together, we’ll drive new, market-leading innovation to enable organizations around the world to further tap into the power of location, while continuing to serve as outspoken leaders calling for the responsible collection and use of data,” wrote Elbaz in a blog post.
The move follows Foursquare’s acquisition of the ad-tracking attribution tool Place in 2019 from Snap. The deal was made with $150 million in funding, received just prior to the deal. At the time, Foursquare’s attribution measurement spanned more than 100 million U.S. devices monthly.