PlaceIQ has a new, big-name investor — Chinese e-commerce giant Alibaba.
The companies aren’t disclosing the size of the deal; they’ll only say that it’s a strategic, minority investment, and that it’s an addition to the $25 million round that PlaceIQ announced at the beginning of this year. Co-founder and CEO Duncan McCall told me this is part of a larger partnership, where Alibaba will be using PlaceIQ’s technology.
PlaceIQ combines location data with “first-party” data from marketers to provide a fuller understanding of consumer behavior — not just whether someone’s visited a car dealership, for example, but whether they’re actually shopping for a car, and what kinds of TV stations they’re likely to watch.
Read the full article on TechCrunch.