A Korean American Got Big Money from Selling His Company to Snap Inc.

According to the Los Angeles Times and tech industry blog GeekWire, Snapchat developer Snap Inc. recently acquired Placed, a mobile advertising analysis company run by Korean American David Shim.
 
The official acquisition price has not been disclosed. GeekWire estimated the cost of the acquisition at up to US$200 million and some other industry sources estimated it at US$125 million.

Founded in Seattle six years ago, Placed has a unique system technology that allows advertisers to analyze the locations of mobile users. The media outlets reported that this technology will be a very attractive tool for Snapchat advertisers.

It is said that the contract is the most expensive M&A deal ever for Snap Inc. and the American technology and social media company is planning to allow Placed to be run as it was before with the headquarters remaining in Seattle. In addition, David Shim is likely to keep working with Snap Inc. while remaining in charge of his company.

David Shim graduated from Washington State University and then worked as a digital marketing manager and the like for Farecast, Webtrends and so on in the mid-2000s. At present, Placed has about 100 employees along with a funded capital of US$13 million.