David Shim is the Founder and CEO of Placed, the leader in location-driven insights and mobile ad intelligence. Prior to Placed, Shim was the Director of Product and Operations at Quantcast. The Makegood recently spoke with Shim about the company closing Series B.
The Makegood: Congratulations on closing $10 million Series B at Placed. What will this funding go towards? How will this further benefit and expand the company?
Placed will use the funds to expand its suite of location insights and mobile ad intelligence products for a growing list of customers and partners, including over half of the top 25 mobile ad networks and publishers in the US, and a significant portion of the Advertising Age 100.
In addition Placed will continue to build out its team with open roles across Engineering, Inference, Operations, Sales, and Client Services.
The Makegood: How has Placed been an innovator in the mobile ad world? Could you elaborate on some of the company’s achievements?
On a daily basis Placed directly measures 175 million consumer locations, providing the clearest integrated view of digital behavior, physical location, and the impact of media. The underlying models source data on an opt-in basis to ensure consumer privacy, and have been validated by consumers over 14 million times. This data in turn generates three core services, Placed Insights – Real World Ratings,Placed Targeting – Behavioral Targeting Using Location, and Placed Attribution – Measuring Mobile Ad to In-Store.
Education is key in terms of accelerating the adoption of location as a planning, targeting, and attribution solution, thus Placed publishes one of the richest and most open set of white papers and case studies around location at http://www.placed.com/resources/case-studies-and-white-papers.
The Makegood: How is Two Sigma involved in Placed’s location intelligence? How does this partnership impact Placed?
Two Sigma’s data-intensive approach to investment management mirrors Placed’s approach to providing multiple layers of value from location intelligence, making this an ideal partnership. This common approach to data exemplifies the value of the partnership that extends past the investment, to the sharing of knowledge to bridge the digital and physical world for the financial services industry.
The Makegood: Could you elaborate on what Placed Attribution is? What is the significance of the recently added new partners?
Placed Attribution is the independent and unbiased solution to connect mobile advertising to in-store visits. By disconnecting media from attribution, Placed is able to provide brands, agencies, and publishers an attribution solution that is free from any conflict of interest.
With the addition of Pandora, The Weather Channel, Rocket Fuel, InMobi, Undertone, and AdTheorent it further cements Placed Attribution as the industry standard for measuring the effectiveness of mobile advertising in driving in-store visits. By establishing a standard currently across publishers and networks, Placed enables marketers to move past the click as an optimization metric, and focus in on what matters, store visits.
The Makegood: What do you see for the future of Placed, its partners, and its innovation process? How do you see the company keeping up with mobile trends?
In the near future, expect to see an acceleration in partner adoption, as brands and agencies require standardized measurement that goes past the click to in-store. With the significant uptick in companies leveraging Placed for location intelligence, we have seen and expect to continue to see, customers asking for new features that will keep our products at the forefront of mobile, location, and advertising.
The Makegood: Thank you, David.