Twitter app developer HootSuite has acquired rival social media platform Seesmic.
No details on the deal have been disclosed, but the price will be dependent on how many Seesmic users covert to HootSuite, according to news provider TechCrunch.
Prior to the deal, San Francisco-based Seesmic attracted $16m in total venture funding. In February 2011, the firm closed a $4m series C round from cloud-computing company Salesforce and SoftBank Capital, which was set up by the eponymous Japan-based conglomerate. It closed its $6m series B in June 2008, with Omidyar Network and Wellington Partners as investors. In November 2007, the company raised $6m in its series A, with support from a number of tech angel investors.
Last year Canada-based applications provider HootSuite raised C$3m ($3m) in debt bridge financing from investors in its previous C$1.95m equity round that closed in December 2009, including Hearst Interactive Media, the corporate venturing unit of US media group Hearst. Venture capital firm Blumberg Capital and angel Geoff Entress, also reinvested with new participation from Millennium Technology Ventures.
Seesmic chief executive Loic Le Meur said: “We’ve always been big fans of Ryan Holmes and the HootSuite team, since the days we were all pioneering the social media landscape. We’re thrilled today to announce that Seesmic is joining HootSuite, and we’re excited for our users: They are becoming part of the HootSuite family, and they will be able to continue to build their brand and social business.”
Hootsuite CEO Ryan Holmes added: ““I have always had a lot of respect for Seesmic’s CEO, Loïc Le Meur, and the role Seesmic has played in advancing social business. We are thrilled to welcome Seesmic’s users into the HootSuite family.”