Salesforce.com (the leading enterprise cloud computing company) has entered an agreement to acquire social media marketing platform Buddy Media for approximately $689 million. BuddyMedia, was founded in 2007 by Michael Lazerow & Kass Lazerow. As per the company’s web site – “The Buddy Media social marketing suite helps brands build powerful connections globally with its scalable, secure architecture and data-driven customer insights from initial point of contact through point of purchase.” Buddy Media is a social enterprise software that enables business to build and maintain relationships with their consumers.
In his blog on the decision to sell to Salesforce.com – Michael writes – “The idea behind the deal is simple. By combining Buddy Media with the rest of salesforce.com’s products, including Salesforce Radian6, the leading social media listening platform, we will be able to deliver the first comprehensive Marketing Cloud that will allow customers to listen, engage, gain insight, publish, advertise and measure social marketing programs.”
“Buddy Media will help Marc advance his mission to build out the world’s leading Marketing Cloud. And Marc and salesforce.com will give Buddy Media the resources and stage to innovate like never before. And let me be clear about one thing – this deal does not signal the end of our innovation but rather the fuel on our innovation fire.”
As a part of the deal, all Buddy Media employees would be retained and salesforce.com would continue to invest in the Buddy Media business. The acquisition is cited as one of the largest deal for salesforce.com , which has earlier acquired Model Metrics, Assistly, Radian6, Jigsaw.