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Adam Przezdziek / Flickr Creative Commons

Snap has acquired Placed, a Seattle-based company that provides tools to measure how online ads translate into offline purchases, the startup announced on Monday. Geekwire, which first reported the acquisition, pegs the deal at more than $200 million. Placed, which employs about 100 people, will continue to operate independently.

Online to offline: Measuring the effectiveness of digital ads at driving offline sales remains a high-stakes yet tricky area for advertising platforms, and Google unveiled its own tool last month at its annual developer conference. Snap, which lets brands sponsor custom photo filters available to Snapchat users in specified locations, debuted its "Snap to Store" feature earlier this year to let advertisers measure how much foot traffic these filters generate, and Placed's tools will now provide even more information, including across platforms.

Go deeper

Updated 46 mins ago - Sports

Live updates: Olympics formally kick off with "sobering" opening ceremony

Naomi Osaka lights the Olympic cauldron. Photo: Maddie Meyer/Getty Images

After a year-long delay, the Tokyo Olympics are finally underway. But this year's largely spectator-less opening ceremony is a "sobering" event focused primarily on the athletes.

The latest: The cauldron in Tokyo has been lit, formally kicking off the Olympic Games. Tennis star Naomi Osaka had the honor of carrying the Olympic torch to light the cauldron.

2 hours ago - Sports

Cleveland Indians change name to "Guardians"

The Cleveland Indians baseball team announced Friday that it will change its name to the "Guardians," following years of activism and protests against a moniker considered offensive by many Native Americans.

Why it matters: It's the first time the team will change its name since 1915, a move that comes in the wake of the nationwide racial reckoning that began with the murder of George Floyd.

2 hours ago - Health

Alabama governor: "It’s time to start blaming the unvaccinated folks"

Photo: Michael Wade/Icon Sportswire via Getty Images

A frustrated Alabama Gov. Kay Ivey (R) told reporters Thursday that "it's time to start blaming the unvaccinated folks, not the regular folks" for the state's continued surge in new COVID-19 cases.

Why it matters: Alabama has reported nearly 8,000 new cases of COVID-19 over the past week. It's one of the few states in the country with fewer than 40% of residents fully vaccinated against COVID-19.