Snap spent cash of $206 million on acquisitions during the quarter ended June 30, 2017. Most of the cash – $196 million – went towards the acquisition of Zenly SAS which was instrumental in the launch of Snapchat’s social mapping feature.
In addition, Snap will also pay $17 million in “future employment services”. So in the end, Snap will eventually pay $213 million for Zenly SAS. Snap also made the purchase of $10 million for part of an undisclosed “social advertising software company” that was added to the Snapchat platform.
Another reported Snap acquisition did not closed until after the end of quarter. In recent SEC filings, Snap disclosed it paid $132 million in cash for advertising technology company, Placed, in July 2017. With the Placed acquisition, Snap still has $2.8 billion in cash and marketable securities.
Snap’s penchant for all-cash deals still leaves lots of dry powder for growing, at least, through acquisitions.