The size of the investment was under $5M according to one source. Content-related businesses have started to become ever more popular in recent times. Witness Buzzfeed and the like.
A few other tidbits from Mediapost:
WPP was also recently rumored to be eyeing social media analytics startup Simplify360. The Bangalore-based firm already boasts about 100 clients, including Revlon, Target and Yamaha.
The social-marketing business is bigger than ever. This year, advertisers are expected to pump nearly $12 billion into social networks around the world, according to eMarketer. That’s 25% more than marketers spent on social last year.
Analysts, however, say the social management market is ripe for consolidation. In fact, over the next 24 months, the number of social-leaning vendors and agencies will shrink from roughly 200 to less than 24, according to Mukul Krishna, digital media industry analyst at Frost & Sullivan.
“Consolidation is definitely needed -- and definitely happening,” Krishna recently told Social Media & Marketing Daily. “The market is extremely fragmented, and filled with vendors and agencies promising to manage everything, which is B.S.”