Snap has acquired tech startup Metamarkets, in an acquisition that will help the company get better visualization of their data. As a result, shares of Snap are on the rise, trading at nearly 4% higher on Friday afternoon.
Metamarkets provides data visualization to companies, so that they are able to view three-dimensional data in the form of interactive visualizations to help them make effective and efficient decisions. The focus of the company is not just to make data access easy, but to make it easier to interact with and visualize its insights, which helps marketers to stay ahead of their competition.
The parent company of Snapchat completed the transaction by purchasing Metamarkets for a value said to be less than $100 million.
This will help Snap bolster its newly revealed tool Snap Pixel, allowing advertisers to keep a track on their performances across various platforms and eventually help with more focused targeting.
Metamarkets is a profitable business that is currently worth tens of millions of dollars. However, there is not much clarity on what will happen with the existing business as part of the deal.