Oracle Buys Social-Media Marketing Startup Vitrue
Big enterprise companies such as Oracle, Adobe and Salesforce have all acquired companies that manage or measure social media as they attempt to add these capabilities to their offerings.
Founded in 2006, Vitrue had raised $33 million in funding; its clients have included McDonald's, American Express and Lowes. The company manages brands' presence on social platforms like Facebook, YouTube and Twitter.
Vitrue's competitors include Buddy Media, which bought Facebook ad company Brighter Option earlier this year, Syncapse, Wildfire, Involver and Context Optional, which was purchased by Efficient Frontier before both were swallowed by Adobe.
The space looks a little like search in its early days. Tech-driven specialist companies sprang up to provide management tools for search advertisers. As social takes a bigger role in the strategies of marketers, both agencies and brands are looking for tech to make buying Facebook ads and managing their social presence more efficient.
Vitrue CEO Reggie Bradford will join Oracle in an undisclosed role.
Syncapse CEO Michael Scissons sees a battle heating up among tech giants to provide tools to CMOs. "This is likely the first of many moves in this space as ad dollars shift and the tech giants look to add social and marketing expertise," he said.