KISSmetrics co-founder and head of product Hiten Shah made it sound like a pretty standard talent acquisition. Shah’s company won’t be using the Source Ninja technology, but it’s bringing on the startup’s two founders (and only team members) on-board — Brett Hardin will become a senior web application engineer and Matt Stump will become an infrastructure engineer.
The SourceNinja team was incubated at AngelPad, and that’s where Shah said he and his co-founder Neil Patel met them.
“The SourceNinja team contacted us for a potential partnership and were exciting about utilizing their technology within the KISSmetrics product,” Shah said (via email). “After a few conversations we decided it would make more sense to acquire them instead of just licensing the technology. … That technology can’t directly plugin to KISSmetrics, but, the experience Matt and Brett have gained from building the technology directly helps our use cases.”
The financial terms of the deal aren’t being disclosed. Shah said this is the company’s first acquisition.