Salesforce buys Buddy Media for 'marketing cloud'

Jun 04, 2012
Salesforce.com, a major customer relations management software firm, has said it was buying the social media marketing firm Buddy Media for $689 million in cash and stock.

Salesforce.com, a major customer relations management software firm, said Monday it was buying the social media marketing firm Buddy Media for $689 million in cash and stock.

The move is aimed at helping Salesforce, a cloud computing firm which makes software to automate sales, marketing and other functions for businesses, boost its platform for social .

The deal will help San Francisco-based Salesforce, "deliver the first comprehensive marketing cloud that will allow customers to listen, engage, gain insight, publish, advertise and measure programs."

"Leveraging Buddy Media's award-winning social media marketing platform, companies can connect and engage with more than a billion customers across Facebook, , LinkedIn, Twitter, and more."

Buddy Media currently has nearly 1,000 customers, including Ford, Hewlett Packard, L'Oreal, Mattel and some of the world's largest marketing agency groups.

The firm helps companies "determine which content is driving the most engagement, test different strategies and understand which campaigns are delivering the greatest return on investment," according to its mission statement.

Salesforce will pay $467 million in cash and $184 million in common stock, plus $38 million in options and restricted stock units.

Salesforce has revenues of some 2.2 billion in the past year and has more than 100,000 customers.

Explore further: Why the Sony hack isn't big news in Japan

add to favorites email to friend print save as pdf

Related Stories

Research: Facebook fan pages are effective marketing tool

Feb 18, 2010

Companies that use the popular social-media site Facebook and its fan page module to market themselves to customers can increase sales, word-of-mouth marketing and customer loyalty significantly among a subset ...

Recommended for you

Why the Sony hack isn't big news in Japan

9 hours ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

14 hours ago

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

15 hours ago

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

Dec 19, 2014

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

Dec 19, 2014

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.