Hootsuite Has a War Chest and They're Headed Down the Acquisition Path

by Rob Lewis | Culture

It's been one year since Vancouver's HootSuite acquired Seesmic for a reported $16 million but we should be prepared to hear about more acquisitions soon.

When HootSuite raised a whopping $165 million Series B round led by Insight Venture Partners earlier this month, observers wondered just how much of that windfall would go to founders and early investors and how much would be earmarked for growth by strategic acquisition.

Techvibes has learned that upwards of $100 million may be used for an aggressive acquisition strategy. HootSuite founder Ryan Holmes has confirmed that a "big percentage" of the funding round would be keep in treasury for strategic growth.

A bank account balance that size could easily be described as a war chest, so look out for some changes on the social media monitoring landscape soon.

Hootsuite Media, Inc.
Vancouver, British Columbia, Canada

Hootsuite is the world’s most widely used social media relationship platform. More than 10 million users, including 744 of the Fortune 1000 companies, trust Hootsuite to manage their social media programs across multiple social networks from one integrated dashboard. Learn more about how Hootsuite is revolutionizing communication at http://www.hootsuite.com. more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more

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