When CoTweet sold to ExactTarget a couple weeks ago, the acquisition price was not disclosed. But an SEC filing put out today suggests that ExactTweet paid at least $8.1 million in stock for CoTweet. That is the value of “securities offered . . . as partial consideration in connection with a merger,” meaning there was likely a cash portion as well. While this isn’t a huge sum, it’s not a terrible return for an initial investment of $1.1 million.
CoTweet helps businesses manage multiple Twitter accounts and use it more effectively as marketing channel. The CoTweet acquisition is now being pointed to as an example of how businesses can be built on top of Twitter. So now we know how much the stock portion of the deal was worth. → Read More
Email marketing software giant ExactTarget has agreed to acquire CoTweet, a young company that offers a tool that enables multiple people to communicate on Twitter through corporate accounts.
CoTweet will continue to operate from San Francisco as a business unit of ExactTarget, essentially taking charge of the company’s social media product development. CoTweet co-founder and CEO Jesse Engle will lead the San Francisco operation and head ExactTarget’s new “social media lab”.
Terms of the agreement have not been disclosed, but we’re digging. → Read More
Although there is no shortage of businesses large and small making great use of Twitter, many are still trying to make heads-and-tales of how to harness its power to communicate with existing and prospective clients. CoTweet and HootSuite are trying to meet this opportunity with feature-rich CRM applications, but for businesses who are Twitter newbies, these apps can be daunting.
Followbase saw this opportunity-within-an-opportunity and designed a simple, bare-bones Twitter CRM app that could form a stepping stone to the more heavy-duty apps.
All you need to do to get started with Followbase is to connect it with a Twitter account. Twitter’s standard 3rd-party OAuth approval is used here to ensure the user is the actual account owner. Followbase then begins scanning the stream and funnels tweets into four customer service oriented topics: Mention, Ideas, Problems and Questions. → Read More
San Francisco, CA
