Social media management platform Hootsuite on Tuesday said it plans to acquire the Snapchat analytics platform created by Los Angeles-based startup Naritiv. Financial terms of the deal were not disclosed.
Naritiv's platform lets users monitor marketing campaigns on the ephemeral social network -- a capability that fits in nicely with Hootsuite's overall social media marketing portfolio. Naritiv itself will remain intact but members of its product team will join Hootsuite's newly opened Los Angeles office and oversee the integration of Naritiv's Snapchat functionality into the Hootsuite platform.
"We felt our Snapchat solution was complementary to the innovative marketing solutions that Hootsuite offers to brands and agencies," said Naritiv, co-founder Dan Altmann, in a statement. "Hootsuite is a market leader for social media management across both paid and organic channels and we're excited to see Hootsuite take our technology to the next level."
Hootsuite CEO Ryan Holmes pointed out Snapchat's importance to social media marketers for its video-centric network, quipping that "Snapchat is the new TV" when it comes to digital video campaigns.
The deal marks the third acquisition by Hootsuite in the last six weeks. In February, Hootsuite bought New York-based social analytics firm LifeMetrix to bolster its existing social media analytics dashboard, and just before that, it acquired Facebook ads manager AdEspresso.
Hootsuite has rallied around the concept of social marketing ROI with its last two acquisitions. The AdEspresso deal focused on ad creation and optimization technology, which appeals to companies looking to get more mileage from content and advertising spend. Similarly, LifeMetrix offers tools to understand, track, and improve the business impact of social campaigns.
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