Salesforce to acquire Buddy Media?

Salesforce to acquire Buddy Media?

Summary: Enterprise software company Salesforce is potentially purchasing social media campaigner Buddy Media, according to reports.

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Enterprise software company Salesforce may be on the brink of purchasing Buddy Media -- a corporation specializing in social media branding and campaigns -- for over $800 million.

Salesforce.com offers CRM software and cloud computing specialized for the enterprise market, and currently retains over 100,000 customers.

It is not the only enterprise corporation which is attempting to acquire specialists in social media, as the report has appeared on the heels of last week's purchase of social media marketer Vitrue by Oracle for over $300 million.

According to All Things D, Salesforce is interested in the five year-old company which promises on its website to "turn fans and followers into real connections". Buddy Media has an impressive and extensive clientele, including L’Oreal, HP, Ford and ESPN.

Buddy Media runs campaigns and assists companies in maintaining a strong social media presence. It works on Facebook, and more recently has extended to LinkedIn, Twitter and Google+.

The social media campaign company is reported to have raised $90 million in funding, and its most recent valuation set its worth at $500 million in 2011. Funding partners include SoftBank Capital, GGV Capital, Insight Venture Partners and the European Founders Fund.

The reported deal has come two months after one former Salesforce sales executive, Susan St. Ledger, joined Buddy Media as the company's new president.

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Topic: Social Enterprise

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