In a major development, Foursquare Labs Inc. has announced its merger with Factual Inc, a start-up company, in an all stock deal. The financial terms of the agreements have not yet been disclosed.
The latest development has come months after Foursquare bought Placed, another company that deals in location data and software, from its previous parent company Snap Inc.
Foursquare first gained popularity after it developed an app that allowed users to share their location date to friends and relatives. In recent times, the company has pivoted in providing the location data to companies that include marketers and advertisement firms. Foursquare helps them to find out how their their advertisements attract customers.
The agreement has enhanced Foursquare’s ability to check the effectiveness of advertisements by measuring foot traffic.
Factual’s location software helps helps companies on market segments, for example, how many people visited a certain vehicle showroom in a month. Factual or Foursquare’s data is already been integrated in digital advertising platforms of The Trade Desk Inc, Oracle Corp. and Roku Inc.