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January 22, 2014 09:12 pm GMT
HootSuite — a platform for enterprises to manage their presence on social media sites like Twitter, Facebook, Foursquare, Instagram and many more — is ramping up its product offering with more big data. Today it announced that it has acquired London-based uberVu, a social analytics platform. Terms of the deal were not disclosed but we’re trying to find out. It’s the first acquisition by HootSuite after raising a $165 million round last year. At the time, HootSuite’s CEO Ryan Holmes said part of the funding would be going towards M&A to grow its product base. UberVU, based out of London, was founded in 2008 and got its first leg up via Seedcamp in the same year. It’s raised a very modest $586,000. The acquisition will give HootSuite two key things. The first is an expanded product offering. Adding analytics, HootSuite will be able to provide more data to its customers about the social interactions it’s making with consumers. This will help HootSuite offer more premium, paid services in the longer run — today the company operates a freemium model with basic services free to use, and like all companies built on that basis, the idea is always to figure out how to upsell users to the next level of (paid, premium) service. The second area is in terms of customers and customer relationships. There are already over 200 enterprise customers using uberVU, says HootSuite, including3M, NBC, Heinz, Fujitsu, SC Johnson, Getty Images, indiegogo, L’Occitane and others. HootSuite says that its current client base includes 75% of Fortune 1000 companies. The acquisition underscores a consolidation trend in the world of social media services for enterprises. That has included the likes of Salesforce and Oracle acquiring companies like Buddy Media and Vitrue, but also many smaller players coming together or exiting to larger companies. Part of the reason is because of the margins on these services — consolidation simply makes financial sense — but there is also the issue of usability and offering budget-constrained marketing departments “one-stop” shops for different services. This is part of what HootSuite also wants to tap into: “We’ve seen that single-purpose social media monitoring tools frustrate users by making it difficult to put data to use and turn insight into action,” writes Ryan Holmes in a blog post. “By bringing uberVU on board, HootSuite is adding powerful analytics capabilities to our battle-tested engagement platform. This is a
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/W8w0zzDr9iU/
HootSuite Buys uberVU To Add Analytics To Its Enterprise Social Media Management Platform
HootSuite — a platform for enterprises to manage their presence on social media sites like Twitter, Facebook, Foursquare, Instagram and many more — is ramping up its product offering with more big data. Today it announced that it has acquired London-based uberVu, a social analytics platform. Terms of the deal were not disclosed but we’re trying to find out. It’s the first acquisition by HootSuite after raising a $165 million round last year. At the time, HootSuite’s CEO Ryan Holmes said part of the funding would be going towards M&A to grow its product base. UberVU, based out of London, was founded in 2008 and got its first leg up via Seedcamp in the same year. It’s raised a very modest $586,000. The acquisition will give HootSuite two key things. The first is an expanded product offering. Adding analytics, HootSuite will be able to provide more data to its customers about the social interactions it’s making with consumers. This will help HootSuite offer more premium, paid services in the longer run — today the company operates a freemium model with basic services free to use, and like all companies built on that basis, the idea is always to figure out how to upsell users to the next level of (paid, premium) service. The second area is in terms of customers and customer relationships. There are already over 200 enterprise customers using uberVU, says HootSuite, including3M, NBC, Heinz, Fujitsu, SC Johnson, Getty Images, indiegogo, L’Occitane and others. HootSuite says that its current client base includes 75% of Fortune 1000 companies. The acquisition underscores a consolidation trend in the world of social media services for enterprises. That has included the likes of Salesforce and Oracle acquiring companies like Buddy Media and Vitrue, but also many smaller players coming together or exiting to larger companies. Part of the reason is because of the margins on these services — consolidation simply makes financial sense — but there is also the issue of usability and offering budget-constrained marketing departments “one-stop” shops for different services. This is part of what HootSuite also wants to tap into: “We’ve seen that single-purpose social media monitoring tools frustrate users by making it difficult to put data to use and turn insight into action,” writes Ryan Holmes in a blog post. “By bringing uberVU on board, HootSuite is adding powerful analytics capabilities to our battle-tested engagement platform. This is aOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/W8w0zzDr9iU/
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