Snap Acquired a New York City-Cased Company Named StreetCred
Daniel Johnson — January 14, 2021 — Tech
References: streetcred.co & techcrunch
Snap recently acquired a location data startup named StreetCred, which is based out of New York City and created a new platform for location data.
With the new acquisition, Snap announced that four StreetCred employees will join the company, including Randy Meech and Diana Shkolnikov. Both of which are co-founders of the location data startup and will now work on map and location ventures for Snap.
Snap has a number of ventures that utilize location data, including Snap Maps, which gives users the ability to view content from a public area. Snap previously announced that Snap Maps was reaching 200 million monthly users. The company has other location data projects including Local Lenses, which allows users to see augmented reality content related to geographic areas.
Image Credit: Snap
With the new acquisition, Snap announced that four StreetCred employees will join the company, including Randy Meech and Diana Shkolnikov. Both of which are co-founders of the location data startup and will now work on map and location ventures for Snap.
Snap has a number of ventures that utilize location data, including Snap Maps, which gives users the ability to view content from a public area. Snap previously announced that Snap Maps was reaching 200 million monthly users. The company has other location data projects including Local Lenses, which allows users to see augmented reality content related to geographic areas.
Image Credit: Snap
Trend Themes
1. Location Data Acquisitions - As more companies look to broaden their location-based products and services, we can expect an increase in acquisitions of innovative startups creating and utilizing location data.
2. Real-time Data Analytics - With Snap's focus on location data, we can expect a trend towards real-time data analytics for location-based insights and advertising opportunities.
3. Augmented Reality Location-based Advertising - With Snap's success with Snap Maps and Local Lenses, there may be opportunities for innovative startups to disrupt the traditional model of location-based advertising by incorporating augmented reality elements.
Industry Implications
1. Technology - As more companies incorporate location data into their products and services, there will be opportunities for innovative technology startups to develop and refine new ways of collecting, analyzing, and utilizing location data.
2. Advertising - The use of location data in advertising is becoming increasingly important as advertisers strive to reach targeted audiences. There may be new opportunities for disruptive startups to create more personalized and effective location-based advertising campaigns.
3. Mapping and Navigation - As Snap acquires StreetCred and expands its focus on map and location ventures, there may be opportunities for startups to disrupt the mapping and navigation industry by offering innovative products and services that utilize real-time location data.
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