Techcrunch has a nice article on today’s acquisition of uberVU, a Boston based social analytics platform founded in 2008, by HootSuite, a management platform for social media.
If you recall, HootSuite raised $165MM last year and indicated it would use the funds for M&A, so it’s no surprise here. The acquisition gives HootSuite additional analytics capabilities and 200 customer relationships, which hopefully will help with the freemium model and upselling. Apparently, only 5% of HootSuite’s 8 million users are paying for the product.
Strategically, the deal shows the the consolidation trend in social media services for enterprises (Salesforce/Buddy Media, Oracle/Virtrue) hoping to build out a broader product offering for marketing departments.
HootSuite plans to operate UberVU as a standalone product, with HootSuite branding, until it’s integrated into the bigger platform. Terms of the deal were not disclosed but uberVU has raised less than $1MM.