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14th June 2012
In The News: The Social Marketing Shakeup Continues – Syncapse Buys Clickable
This article was written by Peter Kafka for AllThingsD.
Have you bought or sold a company that helps companies market themselves on Facebook? Join the club — a consolidation wave has hit the industry in the last few months.
Here’s the newest example: Syncapse, a 5-year-old company that helps companies manage their presence on Facebook, has acquired Clickable, a 6-year-old company that helps businesses buy ads on Facebook — as well as Google and other search engines.
You can think of Syncapse in the same vein, roughly, as Vitrue and Buddy Media, both of which were snapped up in big dollar deals recently. But the Clickable deal is much more modest.
Syncapse won’t disclose a purchase price, but from what I can gather, Syncapse is paying for the deal primarily with equity, and will value Clickable at something close to the $33 million it raised.
Its acquirer has raised a similar sum. Up until this year Syncapse had pulled in $30 million from investors, and it recently picked up another $5 million, some of which it used in the Clickable deal.
Syncapse started out in Toronto and got an early lift by working with BlackBerry maker Research In Motion. More recently it has been adding big ticket customers like Coke and Anheuser-Busch, and CEO Michael Scissons now lives in New York.
Scissons says he employs 150 people but says the Clickable deal will add another 70 to that count. He says “pretty much everybody” from Clickable will come aboard.
Clickable COO Dave Fall will become Syncapse’s chief product officer; Clickable co-founder and CEO David Kidder will take a role as a “strategic advisor”.
Click here to read the full article online.
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