Socialbakers raises $26m as it moves closer to $200m valuation
Tuesday 18 February 2014
Socialbakers, a social media analytics company that monitors online conversations, has raised $26 million (£15 million) in a deal that values the business at close to $200 million.
Index Ventures, which has backed dozens of tech firms including LoveFilm and Net-A-Porter, is the main investor. Social media analytics is a fast-growing area as Socialbakers’ clients, which include Samsung, LVMH and Nestlé, are keen to understand their fans’ behaviour on Facebook, Twitter and other sites.
“Five years ago, it was more about counting fans. Now it’s more focused around reach and interaction,” said Jan Rezab, chief executive of Socialbakers.
He dismissed suggestions Facebook or Twitter could be a fad as usage was “still at the beginning” and marketing spend is rising.
“They have a great amount of users that spend an insane amount of time on their sites — in some cases, it’s exceeding TV. Is that something you can stop in five years’ time? Forget it.”
Revenues trebled last year at Socialbakers, which has its largest international office in London.
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