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Buddy Media poised to reap big bucks in the social advertising space
The social marketing world is making big news this morning following Buddy Media's announcement that it has acquired Facebook ads API partner Brighter Option. The terms of the deal were not disclosed.
The acquisition is Buddy Media's second over the course of the last year. Back in May 2011, the company acquired social commerce and analytics startup Spinback, which resulted in Buddy Media's social marketing suite ConversionBuddy.
So why acquire Brighter Option?
"We realized about six months ago that we needed a paid ad solution tightly integrated with our software suite to increase and accelerate the value of the earned and owned media distribution our customers love," said CEO Mike Lazerow in a rather poetic blog post about the history and philosophy of advertising. "Our acquisition of Facebook Ads API partner Brighter Option, and integrating their social ad management software product into the Buddy Media suite, will ensure that our customers’ social marketing dollars work harder and smarter."
How so? Well, for starters, Brighter Option's unique angle of providing a self-serve Facebook advertising tool makes it possible for game developers, brands, retailers, and others to take charge of their own ad campaigns. Advertisers who make Facebook posts via Buddy Media can now get insights into a post's engagement data, which they can then use to power their social ads.
"The ease and speed in which Facebook ads can be generated, uploaded and managed via Brighter Option’s social ad management software saves both time and money for brands and agencies," said Lazerow. Buddy Media currently serves approximately 600 brands and agencies.
All 21 of Brighter Option's employees will join Buddy Media in its London office, which will bring the London-based Buddy Media headcount to 30. Buddy Media now has some 270 employees altogether.
In addition to the acquisition, Buddy Media also struck a deal with 24/7 Real Media, WPP's marketing technology company, to use Brighter Option's social ad management software to produce Facebook ads for its clients.
While Buddy Media would not disclose its current revenue, it does seem poised to take advantage of the steep rise in social advertising, which is predicted to reach $8 billion in 2012 and $10 billion by 2013, according to a recent eMarketer report.
Buddy Media has raised $90 million since launching in 2007.
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Salesforce Buddy Media is the social enterprise software of choice for eight of the world's top then global advertisers, empowering them to build and maintain relationships with their consumers in a connections-based world. The Buddy Media social marketing suite helps brands build powerful connections globally with its scalable, secure architecture and data-drive consumer insights from initial point of contact through point of purchase. Buddy Media is headquartered in New York City, with additional offices located in Asia, London and San Francisco.