Salesforce Close To Acquiring Branding Expert Buddymedia

This could be a startup version of “Beauty and the Geek.” Cloud-computing sofware pioneer Salesforce is close to acquiring  Buddymedia. Buddymedia ia a 5 year old company that helps brands manage their Facebook presence.

The two companies are almost set to close a deal amounting to more than $800 million. Looks like Buddymedia preferred Salesforce over Google (who was eager to acquire the company too) All of these are from anonymous sources since the two companies declined to comment, maybe until the deal is closed.

Buddy Media is known for helping brands navigate through Facebook. The company is planning to expand beyond Facebook to platforms like Twitter, LinkedIn and Google+. They help maintain apps, ads and pages on Facebook and other social networks.

It has always been forecasted thet Facebook or WPP (a big ad holding company and a current investor) will acquire Buddymedia. But looks like Salesforce has snagged a deal first.

Salesforce plans to use Buddymedia to extend its core customer relationship management offering. In other words, help Salesforce clients find customers and their favorite websites.

But Buddy is not the first deal. Last year, Salesforce bought another social media platform company, Radian6 for $326 milion.

Buddy has raised a reported $90 million. Investors valued it at $500 million during its most recent funding round in August 2011. Looks like it’s getting a good deal from its current buyers.

Looks like social media is the new thing. Last week,  Oracle announced that it had bought Vitrue. Virtue is a (you guessed it) a social media marketing company. It was known that Salesforce had also bid on Virtue but Oracle won buying it for more than $300 million.


Source: Allthingsd